Industrial production drops 6% in March
Argentina’s industrial production dropped 6 percent in March from a year earlier and shrank 1.8% versus February, the National Statistics and Census Institute (INDEC) revealed today.
INDEC specified that manufacture production fell 3.1% and industrial production descended 0.2% from January through March compared with the same period of 2013.
Year-on-year declines were led by the automobile sector (25.1%), oil refining (20.7%) and the tobacco industry (10.4%).
The only positive performances were registered in the textile sector (6.5%), editorial production (11.6%) and the metallurgical industry (3.4%).
According to the Industrial Qualitative Survey published by INDEC, Argentine businessmen say industrial production won’t vary significantly during the second trimester of 2014.