The average utilization rate of the manufacturing industry in Argentina has reached 63.2 percent in October, against 62.4 percent in September, according to the country’s statistics institute, INDEC.
The increase reflects the positive impact of the sectors of oil refining (81.5 percent), pulp and paper (72.9 percent), food and beverage (69.5 percent), basic metals (68.9 percent), and chemical products (63.5 percent)
On the negative side, non-metallic minerals (63.1 percent), automotive (61.2 percent), printing (57.8 percent), machinery (50.7 percent), tobacco (48.9 percent), rubber and plastics (48.9 percent), and textiles (47.8 percent).
On an annual basis, the average utilization rate of the industry has declined by 2.1 percentage points from the 65.3 percent index achieved in October 2023.
With research covering up to 700 industries, the index measures the utilization, in percentage terms, of the production capacity of the manufacturing industrial sector in Argentina.