The manufacturing industry used 59.7% of installed capacity in July, some 5.2 percentage points (pp) above the previous monthas reported by the National Institute of Statistics and Census (INDEC). However, it fell 5.3 pp compared to the same month of the previous year, when the use was 65%.
The main negative impacts are observed in chemical substances and products, metalworking industry except automobiles and paper and cardboard.
The use of the industry’s installed capacity reached its highest level since the beginning of the Government of Javier Mileialthough it remains below the 60% and the 2023 average, which stood at 65.6%.
The industry rebounded in July by almost 7% month-on-month
The industry fell 5.4% in July year-on-year and added 12 consecutive months of declines, but slowed down sharply the decline compared to the previous measurement, when it sank 20.2% in June, according to information reported on Monday the National Institute of Statistics and Census (INDEC). In turn, The industrial production index rebounded by almost 7% compared to June and broke a two-month bearish streak.
In this way, In the first seven months of the year, it accumulated a drop of 14.6% compared to the same period in 2023.
Industry: What to expect in August?
The latest data from industry seem to show that the Crisis hit rock bottom in Juneas the sharp monthly slowdown in the industrial production index in July was also reflected in the use of installed capacity.
“The data for August are still very preliminary, there seems to be a continuation of this recovery, although still below the 2023 levels, although in some cases there is growth compared to last year, for example, in car registrations. Particularly in terms of industrial activity, there is still no evidence that you are already growing compared to last year, but there is some evidence of some continuity of the recovery in July,” Fundar economist analyzed in dialogue with Ámbito, Daniel Schteingart.
Industry: use of installed capacity sector by sector
Sectoral blocks that present levels of use of installed capacity higher than the general level are: oil refining (83.1%), substances and chemicals (65.7%), food and beverage products (65.4%), basic metal industries (61.5%) and paper and cardboard (60.3%).
On the other hand, those located below the general level are non-metallic mineral products (52.3%), automotive industry (52.2%), metalworking except automobiles (51.1%), textile products (49%), editing and printing (48.8%), tobacco products (47.9%), and rubber and plastic products (44%).
The automotive industry, which was practically paralyzed in June, went from 39% to 52.2% utilization level in July, some 13.2 pp A increase, then followed by products of Tobaccowith an increase of 12.5 p.p, going from 35.4% to 47.9%.
Source: Ambito
