Argentinian industrial output declined, on a year-on-year basis, for the fourth consecutive month in August, local statistics agency (Indec) said Thursday. Compared to August 2017, industrial production fell 5.6 percent, year-on-year.
Indec said industrial output in the local automotive sector in August rose 13.7 percent, year-on-year. On the other hand, industrial production in the local metal mechanic sector in August decreased 10.8 percent, year-on-year.
According to a Indec’s qualitative survey, which measured the expectancies of the country’s industrial companies for the September-November quarter, on a year-on-year basis, 32.4 percent expect a stable pace for domestic demand. On the other hand, another 7.9 percent forecast an increase in demand, while 59.7 percent anticipate a decline.
Out of the interviewed exporting companies, 52.6 percent expect a stable September-November for exports, also on a year-on-year analysis. Indec added 31.1 percent foresee an increase, while 16.3 percent anticipate a decline in exports in the same period.