Argentina's industrial output growth slows

Argentina’s industrial output growth slows

Industrial output in Argentina rose a lower-than-expected 4.9% year-on-year in February 2005 as automobile production slowed down due to summer holidays, the Economy Ministry's National Statistics Institute said. The February figure was the lowest monthly growth rate since November 2002. Industrial output rose 6.2% during the January-February 2005 period from a year earlier. Automobile production fell 4.5% in February, but was up 31% in the first two months of 2005. A 9.1% increase in non-metallic minerals and an 8.9% rise in chemical products contributed to the industrial output's rise in February. Robust industrial growth of 10.7% in 2004 helped the economy expand 8.8%.