He use of installed capacity reached its highest level so far in the government of Javier Milei during August and exceeded 60% for the first time, when using the 61.3%about 6.6 percentage points (pp) below the same month last year, when it scored 67.9%.
However, the industry used 1.6 pp more of its installed capacity than in July, when it only used 59.7%. This was reported this Tuesday by the National Institute of Statistics and Censuses (INDEC).
The manufacturing industry hit a floor in June, when it used only 54.5% of its installed capacity, a figure lower than that of the 2002 crisis and just 1.2 percentage points above the level that occurred during the pandemic of Covid-19with activity paralyzed.
Industry: uses by sector
The main negative incidents during August are observed in the metalworking industry except automotive and basic metal industries.
Within the sectoral blocks, those that presented a lower use at the general level were automotive industry (59.9%), tobacco products (54.4%), publishing and printing (51.4%), metalworking except automotive (50.8%), textile products (50.4%), and products rubber and plastic (48.7%).
Meanwhile, those who presented levels of use higher than the general one were petroleum refining (82.0%), basic metal industries (66.8%), paper and cardboard (65.5%), food and beverage products (64.5%), chemical substances and products (64.4% ), and non-metallic mineral products (61.7%).
Industrial production registered its second monthly improvement, but accumulates a drop of almost 14% in 2024
Industrial manufacturing production recorded its second consecutive monthly improvement in August, increasing 1.5%, and reached its highest level so far in the government of Javier Milei. Even so, In year-on-year terms it contracted 6.9% and in the first eight months of 2024 it accumulated a contraction of 13.6%as reported last week by INDEC.
However, the Industrial Production Index (IPI) measured by the INDEC had recorded an advance of 7.2% in July, after hitting a deep bottom in June. The sector is still far from recovering the levels prior to the arrival of the new government, that deepened the recession that the Argentine economy was already going through.
Source: Ambito
