Argentina Industrial production July 2022

Argentina

Argentina: Industrial output growth deteriorates in July

September 8, 2022

Industrial output grew 5.1% year on year in July (June: +7.3% yoy). The result was chiefly driven by weaker machinery and equipment output growth. In addition, chemical products output lost pace. Lastly, food and beverages output lost steam, while automotive vehicles production grew.

On a monthly basis, factory output fell 1.2% in calendar-adjusted terms in July, contrasting June’s 2.9% expansion. Meanwhile, annual average industrial production growth fell to 7.4% in July (June: +8.1%), which marked an over one-year low.

LatinFocus Consensus Forecast panelists expect industrial production to expand 2.7% in 2022, which is down 0.5 percentage points from last month’s forecast. For 2023, the panel forecasts industrial output to rise 1.4%.


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