The Argentine industry falls 7.8% between January and September

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BUENOS AIRES (Sputnik) – The industrial production index (IPI) of Argentina contracted for the seventeenth consecutive month, falling 5.1% year-on-year in September, which implies a cumulative retraction of 7.8% during the first nine months of the year, reported the National Institute of Statistics and Censuses (INDEC).

"The accumulated of the nine months of 2019 presents a decrease of 7.8% over the same period of 2018," the agency said in a report.

Manufacturing production of automobiles and other transport equipment is the sector that leads the industrial retraction by reducing 25.4% between January and September in relation to the same nine months of 2018.

It is followed by the segment of other equipment, devices and instruments (cell phones), which contracted 15.3%, furniture and other manufacturing industries that decreased 15.1%; and metal products machinery and equipment, which fell 13.6%.

In turn, the manufacture of textiles, clothing, leather and footwear (11.8%), the production of non-metallic and basic metal minerals (9.1%) and the refining of petroleum, chemicals, rubber products and plastic (6%).

The manufacturing decline in September alone was also led by the automotive and other transport equipment segment, which contracted 16.5%, followed by furniture and other manufacturing industries, which decreased 13.7%.

They also registered a decline in their activity in the sector of metal machinery and equipment products, which fell 9%, petroleum refining, chemicals, rubber and plastic products (8.9%) and the manufacture of textiles, clothing, leather and footwear (7.7%).

The only sectors that had a rebound in their production were wood, paper, editing and printing (4.1%), other equipment, devices and instruments (3.7%) and food and beverages (0.3%).

"In September 2019, the seasonally adjusted series index shows a negative variation of 5.0% over the previous month," the statistical body observed.

Until now, the worst month suffered by manufacturing activity in this Government had been last December, with a retraction of 14.8% year-on-year, followed by March this year, with a decrease of 14.1%.

Manufacturing production in Argentina has been falling steadily since May 2018.

Building

In addition, lThe construction activity in Argentina decreased 8.5% in September in relation to the same month of 2018 and decreased 8% from January to last month when compared with the same period of the previous year.

"The accumulated of the nine months of 2019 of the original series index shows an 8% decrease compared to the same period of 2018," the official said in a report.



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