“Because of its industrial dynamism, in October Argentina was positioned as the second fastest growing country in a sample of 12 countries“, highlighted the CEP XXI in its World Industrial Activity reportadding that behind Argentina were the United States (+3.8%), Mexico (+3.8%) and India (+1.9%).
On the contrary, the rest of the countries in the sample registered falls in the comparison with 2019: France (-11.2%), Germany (-10.9%), Spain (-8.9%), Italy (- 6.7%), Brazil (-5.9%), Japan (-4.3%) and Chile (-2.1%).
In terms of year-on-year terms, that is, compared to October 2021, nine out of fifteen countries/regions whose information is available to date, presented increases compared to a year agobeing these, in addition to Argentina: China, Europe, Colombia, Turkey, Japan, the United States, Mexico, Brazil, Paraguay and Peru.
Likewise, in view of the prospects for the final two months of 2022 and for the beginning of 2023, the CEP XXI estimated that the levels of activity in the industry will be influenced by “the impact of the continuous interest rate increasesby the Federal Reserve of the United States and the European Central Bank” to contain inflation. He also pointed out that it should be taken into account the evolution of restrictions in China in the face of a new wave of Covid-19 and the dynamics of the Russia-Ukraine war.
The industry grew 1.4% in November in the interannual measurement
Recently, the National Institute of Statistics and Censuses (INDEC) reported that in November 2022 the industrial manufacturing production index (IPI manufacturing) exhibited a rise of 1.4% compared to the same month of 2021with a cumulative January-November 2022 that presents a 5.2% increase compared to the same period of 2021
Likewise, it was noted that in November 2022 the index of the seasonally adjusted series showed a positive variation of 0.8% compared to the previous monthalthough the trend-cycle series index registers a negative variation of 0.4% compared to October.
INDEC also reported that in November 2022, ten of the sixteen divisions of the manufacturing industry presented year-on-year increases.
In order of its incidence at the general level, there were increases in 8.6% in “Clothing, leather and footwear”; 5.6% in “Basic metal industries”; 7.3% in “Automotive vehicles, bodies, trailers and auto parts”; 9.4% in “Other equipment, devices and instruments”; 6.9% in “Metal products”; 0.8% in “Food and beverages”; 3.0% in “Non-metallic mineral products”; 4.7% in “Oil refining, coke and nuclear fuel”; 0.9% in “Chemical substances and products”; and 7.4% in “Tobacco Products”.
On the other hand, it was observed falls of 6.4% in “Wood, paper, publishing and printing”; 4.2% in “Machinery and equipment”; 3.6% in “Rubber and plastic products”; 4.6% in “Textile Products”; 1.5% in “Furniture and mattresses, and other manufacturing industries”; and 1.4% in “Other transport equipment”.
Source: Ambito
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