The fall of the month was strongly influenced by the poor performance of the Agricultural Machinery category.
The metallurgical activity registered, during Octobera 2.9% decrease with compared to the same period of the previous yearthis being the fifth fall in year-on-year terms. If we compare against September 2023the activity showed a 1.5% contractionaccording to the Association of Metallurgical Industries of the Argentine Republic (ADIMRA).
He negative result of the month is explained by a fall in almost all metallurgical sectorswith the exception of companies in the field of Medical equipment and Other Metal Products. In turn, the sectors linked to the agricultural value chain continue with sharp falls in its production as Agricultural Machinery and Bodywork, trailers and semi-trailers.
In October, the fall was once again strongly influenced by the poor performance of the Agricultural Machinery sectorwhich continued to demonstrate a negative performance in year-on-year terms accumulating more than a year of falls in its production.
Metallurgical activity: how each sector fared
At sector levelthey have only been two sectors that have registered an increase in their production levels during the month of October: Medical equipment (+3.1%) and Other Metal Products (+2.2%).
The category of Electric equipment (-8.6%) recorded its first fall in year-on-year terms. On the other hand, the sector Capital goods (-0.4%) recorded its second fall. However, within the sector there is certain heterogeneity since companies linked to the oil, gas and mining value chains continue with positive performances.
The sector of Auto parts (-1.4%) and Bodies and Trailers (-9.8%) continue to deepen the fall of its production started months ago. The category of Foundry (-7.6%), for its part, decreased again its production during October, this being its third month of the year registering a negative variation.
Lastly, the category of Farm Equipment (-16.7%) continues to demonstrate a negative performance in interannual terms, accumulating more than a year of falls in its production. The sector significantly influences the general averagebut, however, this effect has been attenuating due to the decline in the rest of the sectors.
Source: Ambito
