The manufacturing activity of SMEs It fell 3.7% annually in November and accumulates a decline of 13.6% in the first eleven months of the year compared to the same period in 2023. Of the 6 sectors surveyed, 2 improved their activity in the annual comparison and 4 contracted.
At the same time, in the monthly comparison, activity increased 3.9% in the seasonally adjusted measurement. While the use of installed capacity increased again from 62.3% in October to 63.1% in November, reported CAME (Argentine Confederation of Medium Enterprises)
SME industry: sector analysis
In the annual comparison, two of the six manufacturing sectors of the SME segment showed increases: “Wood and furniture” recorded an increase of 6.4%, while “Textile and clothing” grew by 1.7%.
In the accumulated of the year, all sectors showed decreases. The sector with the greatest contraction was “Chemicals and plastics” (-17%), followed by “Paper and printing” (-15.7%) and “Food and beverages” (-15%).
The sector registered an annual drop of 1.8% at constant prices in November and an improvement of 3.7% in the monthly comparison. For the first eleven months of the year, there is an annual decrease of 15%. Industries operated with 65.6% of their installed capacity in the eleventh month of the year, 2.6 points above October.
Production rose 1.7% annually in November and 1.8% compared to October. For the first eleven months of the year it accumulates a drop of 6.4%. The industries operated with 59.6% of their installed capacity, 1.8 points above October.
In November, the sector grew 6.4% annually at constant prices, and 6.1% in the seasonally adjusted monthly comparison. In the January-November period, activity fell 10.5% compared to the same months last year.
- Metal, machinery and equipment, and transportation material
The sector had an annual contraction of 6.1% in November, at constant prices and grew 3.3% in the monthly comparison. For the first eleven months of the year, there is a drop of 13.8% compared to the same months of 2023. Industries operated at 60.9% of their installed capacity, 1.6 points above October.
In November, the sector experienced a contraction of 0.9% annually at constant prices, and a rebound of 7.8% in the monthly comparison. For the first eleven months of the year, production accumulates a drop of 17% compared to the same months of 2023. During this month, industries operated with 65% of their installed capacity (vs. 66.3% in the previous month).
Activity fell 22.1% annually at constant prices in November, being the sector with the greatest decline. However, in monthly terms, it had an increase of 1.5%. For the first eleven months of the year, activity accumulated a drop of 15.7% compared to the same months last year. The factories operated with 66.5% of their installed capacity.
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What companies think: qualitative survey
The most notable measure expected by SME industries continues to be the reduction of taxes (national and provincial) and municipal rates. This joint claim represents 61.8% of the responses (0.4 percentage points above October). Second place was taken by the stimulus to domestic demand with 12.6% responses (one point less than the previous month).
The generation of incentives for hiring personnel ranks third among the measures considered most effective for SMEs in the short term, with 9% of the responses, rising 0.2 percentage points compared to the last measurement.
Source: Ambito
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