The Argentine economy once again showed signs of exhaustion and a drop in activity in August, since the industry fell 3.1% and had three consecutive months of decline, while construction fell 3% and stretched red numbers for the fifth consecutive month .
In August 2023, the manufacturing industrial production index (manufacturing IPI) shows a drop of 3.1% compared to the same month in 2022.
In order to its incidence at the general level, falls were recorded in “Food and beverages”, 7.3%; “Basic metal industries”, 7.4%; “Substances and chemical products”, 3.4%; “Refinement
of oil, coke and nuclear fuel”, 6.7%; “Textile products”, 5.1%; “Machinery and equipment”, 1.6%; “Wood, paper, publishing and printing”, 1.2%; “Furniture and mattresses, and other manufacturing industries”, 2.8%; “Non-metallic mineral products”, 0.9%; “Rubber and plastic products”, 0.8%; and “Other transportation equipment”, 3.1%.
On the other hand, in August 2023 the synthetic indicator of construction activity (ISAC) shows a drop of 3.0% compared to the same month in 2022. The accumulated of the eight months of 2023 of the original series index presents a decrease 2.7% compared to the same period in 2022.
Regarding the outlook for the coming months, the results obtained from the qualitative construction survey, carried out among large companies in the sector, show unfavorable expectations regarding the level of activity expected for the period September-November 2023.