December 9, 2013
Indec reportsSaturday, August 24, 2013
Industry output expands 2.6 percent in July
Industrial output rose 2.6 percent in July compared with the same month a year earlier and 0.3 percent compared to last month, accumulating so far this year only a 1.7 growth, the INDEC national statistics bureau said.
Steel industry had the best output of the month with a 23.6 growth, mainly due to a 33 percent improvement on the crude steel production. Food industry had also a good output with a 5.1 percent increase due to drinks (16.4 percent), white meats (4.6 percent), red meats (5.8 percent) and sugar (3.7 percent). Drops were registered on dairy products (4.2 percent) and in yerba mate and tea (2.5 percent).
Vehicle production increased 8.2 percent while the rest of the metallurgical industry decreased 2.6 percent. This is explained by a drop on the demand of the brazilian market, main destination for argentine cars.
Production of materials for construction increased 2.3 percent because of a raise on cement (7.3 percent) and glass (5.7 percent), while the other materials dropped 2.9 percent. Oil refining decreased 4.4 percent and ended the first seven months of the year with a drop of 1.7 percent. Textile industry dropped 0.8 and chemical production decreased 5.1, mainly due to a 38 percent decrease on basic chemicals.
The industries on the limit of its production possibilities are oil refining (84 percent) and materials for construction (81.2 percent), while food production (68 percent), chemical production (65 percent) and tobacco (65 percent) have the most idle capacity.
Herald with DyN