The National Statistics and Census Institute (INDEC) has revealed that industrial production fell 2.3 percent in August compared to the same period last year, while the sector contracted a total of 2.8 percent over the first eight months of 2014.
According to the agency’s Monthly Industrial Estimator (EMI), production continued a downward trend that has persisted since the start of the current year. In comparison with July 2014, August showed a drop of 1.3 percent.
INDEC’s figures showed that the automotive industry was the hardest-hit in the sector. Vehicle production plummeted 34.6 percent compared to August 2013, with a 7.5 percent fall from July. In total, auto construction has dropped 23.7% since the start of 2014.
Source: Buenos Aires Herald