The manufacturing activity retreated 2.1% between March and June and accumulates four months on decline. The current level resembles September 2007, with 12 of the 16 sectors in fall and strong impact on food and drinks.
The industrial activity He retreated a 2.1% between March and Junespinning Four consecutive months in Low and reaching a level similar to that registered in September 2007. This is revealed by a recent report prepared based on INDEC and faithful data.
The study conducted by the Economic Cycle Research Center (CICEC)which depends on the trade bags of Rosario and Santa Fe, remarked that the industry came from a recovery stage: between April 2024 and February this year it accumulated a 9%rebound. However, since March the trend was reversed and the rebound was attenuated to 4% year -on -year.
“The sector has shown difficulties in maintaining the growing trend”, Says the report, which also warns that the current performance is located 13% below the historical peak of production reached in November 2011.
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Impact of the new exchange scheme
According to the CICEC, the brake on industrial recovery occurs in a more orderly macroeconomic framework, with public accounts in better balance and ongoing disinflation. However, the Volatility in interest rates and exchange rate It affected the real economy and, in particular, the manufacturing industry.
The study points directly to the new exchange rate regime implemented in April: “The flotation scheme between bands was an increase in the exchange rate that more expensive the cost of inputs, which resulted in a brake on the levels of industrial activity.”
Most beaten sectors in the industry
Of the 16 sectors that make up the manufacturing industrial production index (IPIM), 12 recorded falls between March and June. The most affected were:
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Clothing, leather and footwear: -8.4%
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Textile products: -7.4%
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Machinery and equipment: -6.9%
In contrast, some sectors showed positive variations: non -metallic minerals (+6.6%), oil refining (+1.6%) and Rubber and plastic products (+0.6%).
The sector of food and drinkswith a weight of 25% in the general index, it was the one that contributed the most to the setback. The 0.7% drop in this productive branch is mainly explained by the lowest elaboration of soda, waters, sodas, beers, juices, cider and spirits.
That decrease could not be compensated by the increases in the grinding of oilseeds, the production of sugar or that of confectionery and chocolates.
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Source: Ambito
