Industrial output in Argentina plummeted 13.4 percent year-on-year in March 2019, after a slightly downwardly revised 8.4 percent fall in the previous month and compared with market expectations of a 10.1 percent decline. It was the eleventh straight fall in industrial output and the sharpest in three months. The largest decreases were recorded in vehicles & other transport equipment (-33.6 percent); other equipment, apparatus & instruments (-31.6 percent); furnishings & other manufactured industries (-27.8 percent); metal products, machinery & equipment (-18.8 percent); textiles, clothing, leather & footwear (-17.2 percent); non-metallic minerals & basic metals (-10.8 percent); petroleum refining, chemicals, and rubber & plastic (-8.2 percent); wood, paper & printing (-7.9 percent); and food, beverages & tobacco (-7.7 percent). On a monthly basis, industrial output went down 4.3 percent after a 2.7 percent gain in the previous month. Industrial Production in Argentina averaged 1.91 percent from 1995 until 2019, reaching an all time high of 24.60 percent in March of 2003 and a record low of -22.30 percent in March of 2002.
Industrial Production in Argentina is expected to be 0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Argentina to stand at 1.00 in 12 months time. In the long-term, the Argentina Industrial Production is projected to trend around 1.30 percent in 2020, according to our econometric models.