Figures from the Latin American Economic Research Foundation (FIEL) and the National Institute of Statistics and Census (INDEC) read thta the industrial activity fell 2.1 percent from March to June, marking four consecutive months of decline and reaching a level similar to that recorded in September 2007.
Ambito Financiero newspaper cites a study conducted by the Center for Economic Cycle Research (CICEc), which details that the industry was experiencing a recovery period from April 2024 to February of this year, with a nine percent rebound. However, the trend reversed since March, and the rebound slowed to four percent year-on-year.
The study also warns that current performance is 13 percent below the historical peak in production reached in November 2011, during the Cristina Fernndez administration.
Volatility in interest rates and the exchange rate affected the real economy and, in particular, the manufacturing industry, according to CICEc.
Of the 16 sectors that make up the Manufacturing Industrial Production Index (IPIM), 12 registered declines from March to June, with the most affected being apparel, leather, and footwear, with a decrease of less than 4 percent; textile products; and machinery and equipment.
The food and beverage sector was the largest contributor to the decline, with a 0.7 percent drop; induced mainly by the lower purchasing power currently facing Argentine families.
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