The utilization of installed capacity in the industry stood at 53.4% in Marcha level lower than that of the same month in 2023, which was 67.3%.
The sectoral blocks that present levels of utilization of installed capacity higher than the general level were oil refining (80.0%)chemical substances and products (64.9%), paper and cardboard (63.5%) and food and beverage products (54.5%).
The sectoral blocks that are located below the general level are the automotive industry (50.8%)tobacco products (50.5%), basic metal industries (50.0%), publishing and printing (48.3%), non-metallic mineral products (47.2%), rubber and plastic products (44. 1%), textile products (38.5%) and metalworking except automotive (38.0%).
In March 2024, compared to the same month in 2023, the main negative incidents are observed in the basic metal industries and in metalworking except automotive.
In March, basic metal industries presented a level of utilization of installed capacity of 50.0%, lower than that registered in the same month of the previous year (77.2%). According to data from the Argentine Steel Chamber, crude steel production registers a year-on-year drop of 41.5% in the reference month. Likewise, hot-finished laminates registered a year-on-year decrease of 47.0% in March.
The metalworking industry except automotive shows a level of utilization of installed capacity of 38.0% in March, lower than that registered in March 2023 (57.3%), as a consequence, mainly, of the lower manufacturing of agricultural machinery and appliances for domestic use. Indeed, according to data from the manufacturing industrial production index (manufacturing IPI), the manufacture of agricultural machinery registered a year-on-year drop of 48.7% in March and the manufacture of household appliances decreased 42.4% for the same comparison.
Food and beverage products registered a level of utilization of installed capacity of 54.5% in March, lower than that registered in March of the previous year (61.3%), mainly linked to the lower production of beverages, beef and dairy products. .
According to data from the IPI manufacturing, the production of soft drinks, waters, sodas, beers, diluted juices, ciders and spirits registered an interannual decrease of 24.0% in March. While, Beef production had an interannual drop of 17.3% in March. On the other hand, with regard to dairy production, according to data from the National Dairy Directorate of the Bioeconomy Secretariat, Primary production of milk – raw material for the dairy industry – presents an interannual decrease of 14.4% in the month under analysis.
The Automotive industry shows a level of utilization of the installed capacity of 50.8% in March, lower than that of March 2023 (72.5%), related to the smaller number of units manufactured by automotive terminals.
Non-metallic mineral products registered a level of utilization of installed capacity of 47.2% in March, lower than the same month of 2023 (76.3%), as a consequence, mainly, of the lower levels of production of cement and other construction materials. It is worth mentioning that, according to the synthetic indicator of construction activity (ISAC), construction activity presents an interannual decrease of 42.2% in the month under analysis.
Source: Ambito
