Argentina’s manufacturing sector recorded its second consecutive monthly improvement in August, reaching its highest level during Javier Milei’s administration. However, it contracted by 6.9% year-on-year, and contracted by 13.6% in the first eight months of 2024. According to data released on Tuesday, the INDEC statistics bureau’s Industrial Production Index showed a monthly increase of 1.5% in August. However, the sector is a long way from recovering the levels seen before the change of government. The largest year-on-year declines were in non-metallic mineral products (-22.2%), machinery and equipment (-19.2%), and wood and paper products (-17.8%).

Source: Bueno Aires Herald October 09, 2024 15:18 UTC