Industrial output in Argentina plummeted 14.7 percent year-on-year in December 2018, after an upwardly revised 13.9 percent fall in the previous month. It was the eighth straight decline in industrial output and the sharpest since June 2002. Production dropped for all categories, namely textiles (-36.3 percent), other vehicles (-54.9 percent), machinery and equipment (-29.4 percent), rubber and plastic (-10.1 percent), and food & beverages (-2.8 percent). For the whole 2018, industrial production shrank 5.0 percent after a 2.5 percent expansion for 2017. Industrial Production in Argentina averaged 2.04 percent from 1995 until 2018, 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 -1.70 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 1.60 in 12 months time. In the long-term, the Argentina Industrial Production is projected to trend around 1.30 percent in 2020, according to our econometric models.