Argentinian industrial output in November fell 4.5 percent, year-on-year, according to local statistics agency, Indec.
Indec said local industrial production in the accumulated period of January to November declined 6.9 percent, year-on-year, as Argentina still faces a steep recession and a high inflation rate, which is forecasted to reach about 43.8 percent in 2020, according to analysts. Industrial output in the automotive sector in November decreased 23.9 percent, year-on-year.
According to an Indec qualitative survey, which measured expectations for the industrial segment for the December 2019 – February 2020 period, on a year-on-year basis, 37.9 percent forecast a decline in domestic demand. Another 45.2 percent expect domestic demand in the December-February period to remain unchanged, while 16.9 percent anticipate domestic demand will improve.
Out of the interviewed exporting companies, 57.3 percent forecast a stable December 2019 – February 2020 period for exports, while 20.3 percent expect an increase, and 22.4 percent expect a decline in exports in the same period.