Argentina: Industrial output skyrockets
April’s reading benefited from an extremely low base effect and was driven by a broad-based surge in production in all sub-categories.
On a calendar-adjusted monthly basis, industrial output expanded 0.3% in April (March: +0.8% mom). Meanwhile, the trend improved, with the annual average variation of industrial production coming in at 4.9% in April, from March's minus 2.6% reading.
Panelists participating in the LatinFocus Consensus Forecast expect that industrial production will expand 6.4% in 2021, which is unchanged from last month’s forecast. For 2022, the panel expects industrial output to rise 4.0%. ■