In the month three branches had a improvement in the level of activity compared to that achieved in October of last year. The process of oil had a marked increase from greater refining at the YPF facilities in La Plata. The block of food and drinks recorded a higher level of activity due to the notable contribution of soybean and sunflower oil production, beef slaughter and a lower rate of decline in dairy farming. In the case of the cattle slaughter, The increase lasted two months in a scenario of marked export dynamism.
Finally, the The automotive industry showed a slight year-on-year improvement in the month and reached the highest production level in eleven months. The bloc’s exports were the highest since October 2022, marking a significant year-on-year advance due to the increase in shipments to Brazil, a destination that has seen four months of improvement compared to last year.
At the other extreme, the production of non-metallic minerals –mostly inputs for construction have accumulated a year of decline, with sales that have deteriorated in recent months due to the increase in costs in dollars and the reduction of the exchange gap. The activity of the basic metal industries continues to be affected by the weakness of the sectors related to the steel industry, with the exception of activities linked to the energy value chain.
Inside the block metalworking Various behaviors are observed with specific improvements in the production of bodies and chassis for commercial vehicles, as well as agricultural machinery, following the pace of sales that in October showed an improvement for the fourth month in the interannual comparison. Finally, among the chemical and plastic inputs, the production of agrochemicals shows an outstanding performance, partly explained by low demand in 2023 due to the drought.
Which sectors are experiencing a sharp fall this year?
In the first ten months of 2024 and in the Compared to the same period last year, the industry has accumulated a drop of 9%. Among the branches of activity, the greatest contraction accumulated between January and October was recorded by the production of non-metallic minerals (25%), followed by automotive production (19.9%), in both cases in the year-on-year comparison. The remaining branches that show a more pronounced drop than the industry average are basic metals (16.9%), metalworking (15.7%), chemical and plastic inputs (11.7%) and cigarette deliveries (10.7%). , in all cases in the first ten months and in comparison with the same period last year.
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With a smaller contraction than the average, the production of paper and pulp is placed with a decrease of 5.6%, followed by food and beverages, which accumulates a fall of 0.5% and that of textile inputs, which declines 0.3%, in the January-October period and in the comparison with the first ten months of 2023. Finally, oil refining accumulated an advance of 0.9% between January and October compared to the same period last year (See Chart No.
With the above, the The greatest contribution to the contraction of the industry in the first ten months of the year continues to be made by metalworking, while the oil process makes a contribution to the recovery of industrial activity.
Source: Ambito
I am Pierce Boyd, a driven and ambitious professional working in the news industry. I have been writing for 24 Hours Worlds for over five years, specializing in sports section coverage. During my tenure at the publication, I have built an impressive portfolio of articles that has earned me a reputation as an experienced journalist and content creator.
