Contrary to the reports made by the Argentine Industrial Union (UIA)and two weeks before the official study is known INDECa private consulting firm reported a growth in the production and activity of the national industry compared to last month, although it did not reach the interannual record.
This is a report prepared by Orlando Ferreres and Associateswho played a 3.5% recovery in July compared to June 2024although the industrial activity suffered a decrease of 0.8% compared to July 2023. The rebound is also reflected in the fact that the year-on-year drop last month was much higher, reaching 12.1%.
The authors of the report stated that “although the July data is auspicious, We do not expect similar growth figures in the coming months.and we could still see new monthly declines before beginning a gradual recovery based on improved family incomes and an increase in domestic consumption.”
Argentine industry in July 2024
According to the consultancy, the sector of Food, Beverages and Tobacco was the one with the highest year-on-year growth in the country, with an increase of 2.8% (14.2% compared to the previous month). In this framework, the oil sector was the most buoyant, with an expansion of 60.9% in July 2024 compared to the same period in 2023.
In contrast, they are Many sectors are experiencing a year-on-year decline but are recovering compared to June of this year. The sector of enters that orbit Machinery and Equipment (35% year-on-year drop in June but 16.7% in July); Base Metals (33.2% and 10.2%); and Non-metallic minerals (33.6% and 18.7%
For its part, the automotive industry reported the manufacture of 44,436 new vehicles in the month of Julywhich represents a 9.8% year-on-year decrease but an improvement of around 38.7% compared to June 2024.
According to UIA, the activity marked its ninth consecutive month of contraction
He Industrial Performance Monitor (MDI index) of the Argentine Industrial Union (UIA)which anticipates the sector’s activity cycle, stood at 43.3 points. For the ninth consecutive month, in July it was below 50 points, which implies a situation of contraction.although it is far from the lows reached in January of this year.
The indicator weights the results of production, sales, employment, delivery times and input stock levels and 38.9% of the surveyed companies reported decreases in production, 43.7% in sales, 28.2% in exports and 17.3% in employment. In all cases, these percentages were lower than those of the previous survey.
Construction employment.jpg
38.9% showed declines in production, against a drop of 35.9% in July 2023while 23.1% had increases and the decrease predominated in nine of the 12 sectors surveyed.
As regards the use of The installed capacity of the companies was an average of 58 And for 69% of companies, utilization was lower than what was considered optimal. Among them, 55.7% expect to recover these levels only in the second half of 2025 or later.
Source: Ambito
