The National Institute of Statistics and Census of Argentina (INDEC) informed that Argentina’s industry activity fell 8.1% in June 2018, showing that the recession reached almost all the items, except for the basic metals industries. In addition to these figures that confirmed the worst presumptions that the Argentine Industrial Union (UIA) had alerted early this year, the businessmen announced that the crisis will continue due to the collapse of the domestic market.
For a consecutive month, the index that measures the evolution of the industry registered a negative balance in the year-on-year comparison, after a year of positive results.
According to the Monthly Industrial Estimator (EMI), the sharpest falls in the interannual measurement of June corresponded to oil refining (19.9%), car industry (11.8%), rubber and plastic (11.1%) and metalworking (10.9 %). The industries that also ended the month with heavy losses are the textile industry (10.8%), the production of chemical substances and products (10.0%), tobacco (9.7%), food (5.4%), the edition and printing (4.2%), non-metallic minerals (3.7%) and the block of paper and cardboard (1.2%)
On the contrary, the basic metal industries recorded a rise in the interannual measurement in June (9.8%), according to official information.
The food industry accumulates in the first half a decrease of 0.5% compared to the same period in 2017.
The production of red meats had an increase in June of 5.9% with respect to the same month of the previous year and accumulated in the first semester a rise of 9.7% against the same period of 2017. While the production of poultry recorded a decrease of 11.8% in the interannual measurement and accumulated in the first part of the year a fall of 6%. The milling of cereals and oilseeds experienced a decrease of 10.7% in June compared to the same month of the 2017 and accumulated in the first half a fall of 9.8% over the same period of 2017. The production of beverages in June showed a decrease of 11.2% against the same month of the previous year, caused by drops in wines, soft drinks, water and sodas, and accumulated in the first half of 2018 a rise of 1.6% with respect to the first semester of 2017.
Date: 2 August 2018