Argentina'S Industrial Recession In September 2019 Was 7%, Which Has Been Shrinking For 17 Consecutive Months.
According to the statistical report of Argentina National Federation of industry (UIA), Argentina is facing the impact of foreign exchange fluctuation, domestic demand decline and payment delay. In September 2019, industrial activity declined 7% compared with the same period in 2018, if compared with August, it dropped by 3.3%. The manufacturing industry has been shrinking for 17 consecutive months, the worst month since 2009.
According to statistics, the most influential industry is the automobile industry. Up to now, it has accumulated a deficit for 13 months, followed by chemical industry and metallurgical industry, and continues to be non-metallic mineral industry, petroleum industry and basic metal industry. However, some industries such as textile industry and tobacco industry are growing, while the food and beverage industry is flat.
In addition, according to the industrial production index (IPI) report of the Argentina National Bureau of Statistics (INDEC), the 5.1% decline in September 2019 compared with the same period last year. Another FIEL consultant estimated that industrial activity declined by 3.2% in October 2019.
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