Industrial production in Argentina contracts less in August
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August’s contraction was due to an increase in the food industry.
According to INDEC, August’s contraction was due to an increase in the food industry, which expanded 0.4% on an annual basis. The refinery industry dropped again in August, but the contraction was softer compared to the decrease recorded in the previous month.
Panelists participating in the LatinFocus Consensus Forecast expect that industrial production will decrease 1.1% in 2016, which is unchanged from last month’s forecast. For 2017, the panel expects industrial output to expand 2.5%. ■