In this aspect, the CEP XXI explained that in the third quarter of 2022 three industrial branches operated at record levels in the last 20 years, such as Food and Beverages, Chemicals, and Non-metallic Minerals, always in the quarterly comparison and without seasonality. Also that Leather and footwear and Paper registered highs since the second quarter of 2011, that the Automotive industry presented its highest performance since the fourth quarter of 2015 and the Oil Refining branch reached its highest level of activity since the fourth quarter of 2017.
Another element that this organization highlighted was that the growth of Argentine industrial activity with respect to the pre-pandemic remains well above the world average. In fact, in October Argentina positioned itself as the second country with the highest industrial growth in a sample of 12 countriesbehind only China, which rose 16.2%.
A) Yes, the local rise of 4.8% registered in the tenth month of the year compared to levels of October 2019, surpassed records from countries like USA (+3.8%) Mexico (+3.8%) and India (+1.9%). The rest of the countries in the sample registered falls in the comparison with October 2019: France (-11.2%), Germany (-10.9%), Spain (-8.9%), Italy (-6.7%), Brazil (-5.9%), Japan (-4.3%) and Chili (-2.1%).
The picture is directly linked to the general growth of economic activity. And it is that according to Viewpoint of the News of Work and the Economymade up of economists graduated from the University of Rosariothe activity is almost 7 points above the level at which the Cambiemos government left itY 22 points above the start of the pandemic.
Beyond this situation, the lookout reports that it continues to be observed, month after month, a flattening of the curveTherefore, although the indicator currently reflects year-on-year growth of close to 5%, at the beginning of the year this value was close to 10%.
In the same way and in relation to the industry, UNDAV pointed out that, according to the Monthly Estimator of Economic Activity (EMAE) seasonally adjusted, in September 2022 the indicator fell 0.3% compared to the previous month.
The slowdown is largely explained by the difficulties derived from the shortage of dollars and the closure of imports, next to one fall in consumption as a result of the deterioration of wages due to inflation.
In fact, in communication with Ámbito, Julián Moreno, president of Apymereported a “complex closing of the year to import products and inputs, together with the uncertainty of an election year, in which there is the possibility that a government that does not consider the industry as a priority will take power.”
Source: Ambito
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