Industrial output in Argentina fell 6.9 percent year-on-year in May 2019, after a downwardly revised 8.7 percent decrease in the previous month and compared with market expectations of a 3.8 percent decline. It was the thirteenth straight fall in industrial output, but the softest in nine months. The sharpest declines were recorded in vehicles & other transport equipment (-25.5 percent); furniture (-22.8 percent); other equipment (-19.8 percent); textiles (-14.9 percent); metal products, machinery & equipment (-9.8 percent); oil, chemicals, and rubber & plastic (-4 percent); wood, paper & printing (-3.8 percent) and food, beverages & tobacco (-1.3 percent) . On a monthly basis, industrial output rose 0.6 percent after an upwardly revised 2.5 percent increase in April. Industrial Production in Argentina averaged 1.87 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 1.10 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 1.80 in 12 months time. In the long-term, the Argentina Industrial Production is projected to trend around 2.00 percent in 2020, according to our econometric models.