Industry grew 1.7% in April (accumulates 2.5%)

Industry grew 1.7% in April (accumulates 2.5%)

The level of industrial activity registered an increase of 1.7% in April in relation to the same month of 2022, and an improvement of 1.2% compared to last March, the National Institute of Statistics and Censuses (Indec) reported yesterday. Based on these numbers, manufacturing activity recorded a cumulative improvement of 2.5% during the first four months of the year.

In April, eight of the sixteen divisions that make up the measurement of the manufacturing industry posted year-on-year increases. In order to its incidence at the general level, improvements were registered in Basic metal industries (36.3%); Other equipment, devices and instruments (13.1%); Oil refining, coke and nuclear fuel (11%); Motor vehicles, bodies, trailers and auto parts (4.7%). Furniture and mattresses and other manufacturing industries also registered 5.1% increases; Metal products, 1.7%; Textiles, 1.8%; and Other transportation equipment, 3.4%. On the contrary, in April the Food and beverage divisions showed decreases (-1.7%); Non-metallic minerals (-5.3%); Machinery and equipment (-3.5%); Wood, paper, publishing and printing (-2.4%); Clothing, leather and footwear (-3.5%); Rubber and plastic (-3%); Chemical substances (-0.6%); and Tobacco (-0.3%).

When explaining the performance of the industry and the improvement in activity registered in recent months, in a context in which some economic analysts and opposition leaders speak of an imminent recession, the Ministry of Economy pointed out the effect of “drag ” generated by Vaca muerta, with a 42% year-on-year increase in investments “which not only translates into greater activity in the province of Neuquén, but also in the rest of the production chains”.

Source: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts