Argentine industrial production down in May but some sectors are recovering

Friday, June 26th 2015 - 06:19 UTC

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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. Read full article

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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 - Link - Report abuse 0
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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 - Link - Report abuse 0
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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 - Link - Report abuse 0
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ChrisR
The idiocy of TMBOA in her micromanaging the country to penury is excelled only by those in TDC who think working for the government is helping the economy and they themselves pay tax.

Unable to grasp reality is now the fate for this once prosperous country when the British helped run things. Pity Peron was so lauded and continues to be so by these people.
Jun 26th, 2015 - 07:34 pm - Link - Report abuse 0
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Z-ville
Has anyone seen any updated crime stats from Indec lately...?
Jun 27th, 2015 - 02:05 am - Link - Report abuse 0
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chronic
The ship of state is listing badly. Two decks of which are now water logged as it continues to drift further into iceberg infested seas. The bilge pumps can't be repaired but there is good news. The leaks have slowed - is ever so slightly! The lifeboats have now been thrown overboard to reduce the draft in hopes that the vessel may be spared the reef. Sentiment is high as soccer is watched while consuming copius portions of choripan and quilmes. Native cunning and false bravado will overcome all issues with the enginnering aspects of the boat which was obviously sabotaged by the imperialists.
Jun 27th, 2015 - 12:06 pm - Link - Report abuse 0
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ChrisR
@ 6 chronic
“Native cunning and false bravado will overcome all issues with the engineering aspects of the boat which was obviously sabotaged by the imperialists.”

I agree with that statement.

What a pity that the leading engineer of TDC, presently hiding in Canada, cannot be there to help them.

With his brilliants engineering mind he would immediately drill a hole in the bottom of the boat to let the water out!

You couldn't make it up.
Jun 27th, 2015 - 02:07 pm - Link - Report abuse 0
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