Argentina industrial production plummeted 13.3% in October 2018 after plunging 6.8% in the previous month. It was the seventh straight drop and the sharpest decline since June 2002, as all categories fell excluding tobacco (+1.5%) and basic metals (+4.1%).
According to the country's stats office, Indec, output contracted particularly sharply for: textiles (-32.2%), machinery (-26.2%), plastics (-17.4%), and vehicles (-14.8%). Considering the first eleven months of 2018, industrial activity shrank 3.8% compared to same period of the previous year.
Industrial Production in Argentina averaged 2.10% from 1995 until 2018, reaching an all time high of 24.60% in March of 2003 and a record low of -22.30% in March of 2002.
Construction likewise contracted 15.9% in November, its largest drop in almost two years. The freezing of public works contracts and of mortgage loans for house building have had a huge impact. However despite the negative month the overall activity index remained positive at 2.7%.
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Has MP turned Kirchnerist?Jan 05th, 2019 - 04:59 am -1
How else could be justified this medium's publication of openly subversive stories in an attempt to erode the triumphal march of the Cambiemos government towards the well-being of the Argentines?
I know -- much remains to be done; but guided by our leader, president Mauricio Macri and with the invaluable help of such a prestigious organization as the IMF, the country is well on its way to reconstruction, after being almost irremediably destroyed by the Kirchnerist dictatorship.
Why, all you people need to do is to wait for the second semester...wait. You said we are already at our sixth semester? How time flies! OK, let's say that inflation has been reduced...well...inflation is progressing at a slower pace...OK, inflation is still a record high. However, we are planning to reduce it in 2020 thanks to our Deficit Zero program that will reign on inflation by reducing wages, imports, exports, health and education expenses, etc. etc.
Oh, and populism is so bad...told ya!