Argentina’s industrial production in May slumped 5.1%, says Industrial Union
Argentina's industrial production in May slumped 5.1% from a year earlier due to a sharp slowdown in the automotive, non-metal minerals and base metals sectors, manufacturer chamber UIA said in its monthly report Tuesday.
May's industrial production was down 4.2% on the year in seasonally-adjusted terms, said the Argentine Industrial Union.
That's in line with the 4.6% year-on-year drop in May's industrial production reported by the government. In seasonally-adjusted terms, May's manufacturing was down 4.5% on the year and 2.4% on the month, according to the national statistics agency, Indec.
Manufacturing has been hit hard by an economic slowdown in top trading partner Brazil, reduced growth at home and government restrictions on needed manufacturing imports.
Car makers have seen exports to Brazil plunge, and May's vehicle manufacturing fell 24.4% on the year, the UIA said.
Imports in May were down a sharp 5% on the year, due mainly to the “contraction of sectors that rely heavily on imported goods,” such as automobiles, metal works and car parts, the UIA said. Exports were down even more, falling 7% on the year, with manufactured goods bearing the brunt of the decline.
Economic growth in Argentina has stalled in recent months. In April the monthly economic activity indicator rose just 0.6% on the year and fell 1.6% on the month.
The Argentine government is betting on 4.1% expansion this year but private estimates range between 2% and 3%.
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Maybe a law that insists all negative economic data must pass through a committee to verify it's veracity. Then just delay appointing members, agreeing a schedules etc.
Socialist Economics 101 at the school of assbackwards.
So must be a lie and the manufacturing sector is going up for sure.
After all everybody say that INDEC lies.
Ha ha seems INDEC is always right for someone when only reports bad news.
Amazing! Truly independent journalism ha ha
By the way is Mike Summers the new editor or Davidito CaMoron?
@2 Your making this to east for me today. She is not pro people she is pro power and her own wealth. She has seen over Argentines economic decline not its recovery. Argentine had been enjoying huge growth now it is shrinking and fast and she does not have a clue what to do. So she will smile and wave nicely whislt secretly crying herslef to sleep as she will be remembered as the second Isabella Peron, the vain, demigogorey of a president who destroyed her countries potetnial and the fortunues of its citizens.
I will say if RGs are reporting a slowing it means it is really negative and really bad, really really bad, because it means they can't manipulate the figures any more.
The ever decreasing peso will spike inflation when does hyper inflation kick in 50% or more?
Brr I heard CFK is in La Paz begging for cheaper nat gas and Evo said sorry pay what we agreed or freeze.
Industrial Productions of almost all countries are all decline in the first half of this year.Argentina is not detached from them.
Argentina agri sector outputs are well by convenient air conditions and its service sector very lively ,so they can easily tolerate the industrial fluctuation.
Hahahaha retard
higher than last years.
That's a bad fail in logic. Argentine indices have a reputation for massaging the figures to make CFKs regime look good. Therefore we can conclude that if they are reporting a drop in industrial production it is likely that the reality is a catastophic decline in industrial production.
The difference is most countries do not have double digit inflation and can borrow money on the open interntional lending markets. This is the case with Argentina and without a growth in GDP and a large trade surplus the Inflation can not be kept in line and will spiral out of control leading to a multitude of problems.
I wouldn't be surprised if the president of the UIA isn't being investigated by the AFIP!!!!!
There are no any high inflation conditions in the world economy.
Argentina's real CPI rate is neither INDEC's nor some other groups' numbers
Foreign borrowing is a different comprehensive matter.
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&13
Just speculation
maybe
a tactic to prices up.
www.aneki.com/countries2.php?t=Countries_with_the_Highest_Inflation_Rates&table=fb142&places=2=*&order=desc&orderby=fb142.value&decimals=--2&dependency=independent&number=all&cntdn=asc&r=-34-36&c=&measures=Country--inflation rate (%)&units=--&file=inflation
If growth in GDP shrinks it will lead to recesion and with high inflation it is very hard to combat stagflation and economic collapse.
According to agri news, what is putting out this year is last years production, which was 49million metric tons. The previous year was 54.5 and two months ago the projection for next year was 44 and now been adjusted to 43 and possibly lower. I see a trend here. If RG land needs to rely on beans for pesos, there are ups a shit creek without paddles.
They will not be able to print pesos fast enought next year.
I know some of you predicted what i am calling the panic rate at 8 or 9 but I am really thinking 7. This daily decrease is DISASTROUS for the avg Rg.
But back on point..........do you think all we eat is soybeans and importing it to the USA will fix Argentina's woes? Besides........KFC said a short while back when we removed trade preferences, “so what.....all we import is lemons”...........which is it.....lemons or soy beans?
Got to hand it to you; you look like being correct again. Are you sure you're not an Economist reporter?
So what they are saying is an advanced degree from Argentina is equivalent to one from Bolivia...
We don't do that in the USA that is why you see Rg Engineers cleaning pools.
Bahahahaha
Probably he is a fallen US plane's - blackbox-
pardon !...could be -xbarilox -.!
Really? Wow!
I would like that INDEC reports more bad news like this because our and some friends business are doing quite good.
So none cares about what media and idiots say what really counts is reality.
@EnginnerAbroad
Yea! EA if your forecast and the inflation index in the DN as you say are so precise like the level of unemployment reported by UK we are all cooked like a dead duck.
Explain me something how in US and Europe having more inflation over prices than Argentina in food and others they report so low inflation?
In US some commodities increase prices rose 90% and 120% last year, food rose an average of 60%, basic plastics used every day in manufactures 50%, Oil, etc, etc. Who absorbs the price rising for the statistics? Obama?
In UK food’s prices have triplicate them selves and is the country with more increase in price over food among EU countries and to 2030 will be even worse.
Food according with FAO and the food index averaged have rose 37% average world wide.
So having this as road map for a poor person in UK or Spain, Ireland, etc. that will represent real inflation because hardy can afford to eat. Like this is happening in Britain, Spain, US, etc. right now.
So what this shows? That in developed economies the average inflation is not 2,3, 4, etc is 12% to 18% well hidden in the statistics like the Unemployment in UK and US.
So what the Consumer Price Index in US made by the BLS reports just a 0.1 percent increase.
Is not amazing how someone cooks the statistics for political reason?
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