Industrial output in Argentina fell 1.9 percent year-on-year in July 2019, after an upwardly revised 7.2 percent decrease in the previous month. It was the fifteenth straight fall in industrial output but the softest in 14 months, and omits a volatile financial scenario following August’s primary election outcomes. Main contractions were recorded in vehicles & other transport equipment (-25.2 percent), minerals (-4.5 percent), textiles (-3.9 percent), and metals & machinery (-3.7 percent). In contrast, the key food & beverages industry jumped 4.2 percent after advancing 1.3 percent in June. On a monthly basis, output climbed 3.0 percent following a 1.2 percent decline. Year-to-date, industrial activity shrank 8.4 percent over a year ago. Industrial Production in Argentina averaged 1.82 percent from 1995 until 2019, reaching an all time high of 24.60 percent in March of 2003 and a record low of -22.30 percent in March of 2002.
Industrial Production in Argentina is expected to be -4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Argentina to stand at 1.30 in 12 months time. In the long-term, the Argentina Industrial Production is projected to trend around 2.00 percent in 2020, according to our econometric models.