Argentina’s industrial production fell 2.2 percent in February compared to the same month last year, reflecting 19 consecutive months of decline, according to a report Thursday from the National Institute of Statistics and Census (INDEC).
Compared to January, manufacturing activity showed a decline of 0.4 percent. The factory recoil is driven by the automotive sector during February fell 14.9 percent from a year earlier. In regard to the first quarter, production fell 2.1 percent from the same period of 2014. The 20.4 percent contraction in vehicle manufacturing low was explained by the decrease in demand from Brazil.
Industrial exports suffered a decrease of 27 percent in February and 26 percent in the first two months of the year. Steel production in February showed a decline of 0.5 percent.
However, growth indicators appeared in the metalworking industry, with a rise of 9.6 percent, and the production of inputs for construction, with 7.8 percent.