The manufacturing Industrial Production Index (IPIm) plummeted a strong 21.2% year-on-year in March, The National Institute of Statistics and Censuses (INDEC) reported this Wednesday, in the midst of a recessionary process in the Argentine economy.
Its about worst monthly data since May 2020 when it collapsed by 26.2% in the midst of the pandemic.
The index of the seasonally adjusted series for the third month of the year showed a fell 6.3% compared to the previous month, and the trend-cycle series index registered a negative variation of 1.4% compared to FebruaryINDEC noted.
The Argentine economy faces a recessionary stage with high inflation and increase in poverty, in the midst of a fierce fiscal adjustment by the libertarian government of Javier Milei.
The IPIm accumulates a sharp decrease of 14.8% in the first quarter of the year, after falling 9.9% in February and a corrected 12% year-on-year in January.
Source: Ambito
