Argentinian industrial output in June dropped 8.1 percent, year-on-year, the second consecutive year-on-year decline this year since May, according to local statistics agency Indec. Argentinian industrial production had been increasing from January to April this year on a year-on-year basis.
Indec said industrial output in the local automotive sector in June dropped 11.8 percent, year-on-year. Industrial production in the local metal mechanic sector in June decreased 10.9 percent, year-on-year.
According to Indec’s qualitative survey, which measured the expectancies of the country’s industrial companies for Q3, on a year-on-year basis, 41.2 percent expect a stable pace for domestic demand. On the other hand, another 13 percent forecast an increase in demand, while 45.8 percent anticipate a decline.
Out of the interviewed exporting companies, 49 percent expect a stable Q3 for exports, also on a year-on-year analysis. Additionally, 33.3 percent foresee an increase, while 17.7 percent anticipate a decline in exports in the same period.