Argentine industrial production down in May but some sectors are recovering

Friday, June 26th 2015 - 06:19 UTC

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May’s fall was triggered by negative results in steel and aluminum; automobile production; tobacco; foods and beverages and textile production

Argentine industrial production fell 0.3% in May compared to the same month last year, marking its 22nd consecutive decrease according to the INDEC statistics bureau. Taking into account the first five months of 2015, industrial activity decreased 1.5% compared to the same period of 2014.

However, according to INDEC’s Monthly Industrial Estimator index (EMI), production slightly increased in May compared to April (0.2%). It is the second consecutive monthly gain for the EMI.

In addition, the statistics bureau’s qualitative industrial survey indicated 15.8% of businessmen foresee production will fall again on June, while 77.3% say the situation will remain stable and the remaining 6.9% said industrial activity will increase.

May’s fall was triggered by negative results in the steel and aluminum production (-13.5%), automobile production (-9%), tobacco (-2.7%), foods and beverages (-2%) and textile production (-2%).

Nevertheless the metal-mechanic industry was up 5.6%; chemicals, 2.6% and rubber and plastic, 5,1%. Likewise paper and cardboard production was climbed 4.1%; elements for the construction industry, 2.6% and printing, 2.1%.

Categories: Economy, Argentina.

Tags: Argentina, Argentine industrial production, Indec index.

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yankeeboy
Even the massive pumping of pesos into the economy isn't doing anything.
They're doomed

I can't wait to see them street fighting over the last bag of beans.

Brr.
Jun 26th, 2015 - 11:40 am 0
Chicureo
My close friend in Mendoza who is in the wine industry tells me that things have gotten only worse after the protests. The taxes of 21% IVA and 6% export permit that's supposed to be refunded after the exporter receiving remittance is purposely delayed at least 120 days. Suppliers of materials, such as cartons, bottles, corks, etc... no longer give terms, but now insist COD. Meanwhile with 40% or more inflation, they are spiraling into bankruptcy.
Jun 26th, 2015 - 01:10 pm 0
yankeeboy
BCRA is bankrupt, the float they've used for so long has dried up. They can't even buy enough nat gas to keep the lights on in BA.
They're in deep doo doo
Jun 26th, 2015 - 01:22 pm 0

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