Industrial output in Argentina fell 6.9 percent year-on-year in June 2019, after an upwardly revised 7.0 percent decrease in the previous month and compared with market expectations of a 3.8 percent decline. It was the fourteenth straight fall in industrial output, but the softest in ten months. Main contractions were recorded in production of vehicles & other transport equipment (-28.7%); other transport equipment (-32.2%); furniture (-15.3%); textiles (-18.5%); metal products (-11.8%) and chemicals (-10.5%). In contrast, food & beverages (1.3%) and coke & refined petroleum products (2.8%) were the only industries expanding. On a monthly basis, industrial output fell 1.8 percent following an upwardly revised 0.7 percent climb in May. Year-to-date, industrial activity shrank 9.4 percent over a year ago. Industrial Production in Argentina averaged 1.84 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.