MercoPress. South Atlantic News Agency
Argentina’s industrial production marked a modest 0.2% rise in January
Auto sales to Brazil remain crucial for industrial production Argentina's industrial production started the year with a modest improvement rising 0.2% in January from a year earlier after output shrank 1.2% in 2012 as a whole, government data showed. Factory output rose 0.6% in January compared with December, seasonally adjusted.
In the crucial automobile industry, which suffered the impact of slowed Brazilian demand last year, production rose 5.3% versus January 2012.
However output fell 36.1% over December 2012 probably as a result of planned maintenance stoppages during the peak summer month.
In December, Argentine industrial production dropped 3.4% from a year earlier in non-seasonally adjusted terms, and dipped 0.6% versus November. Industrial output fell in 2012, marking the first decline since the economic crisis a decade earlier.
This stemmed in part from a downturn in the auto industry, although tough import rules also played a role by delaying the entry of some foreign-made parts and currency controls hurt investment.
Growth in Latin America's No. 3 economy slowed sharply in 2012 after booming during most of the previous nine years.
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Read all commentsDuring the past 10 years, Argentina stole her future growth and is now paying the price.
Feb 27th, 2013 - 02:07 am 0Brazil's growth will be abysmal it looks like they're going to have to raise interest rates to dampen inflation so I doubt anyone will be buying Rg cars.
Feb 27th, 2013 - 02:39 am 0Plus I don't think there is enough U$ to buy the needed fuel this winter so Arg will have to idle factories to keep homes warm.
Even Indec won't be able to show growth!
Comment removed by the editor.
Feb 27th, 2013 - 02:49 am 0Commenting for this story is now closed.
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