Argentine industrial production fell 0.3 percent in May compared to the same month last year, marking its 22nd consecutive decrease according to the INDEC statistics bureau.
Meanwhile, taking into account the first five months of 2015, industrial activity decreased 1.5% compared to the same period of 2014.
However, according to INDEC’s Monthly Industrial Estimator index (EMI), production slightly increased in May compared to April (0.2%). It is the second consecutive monthly gain for the EMI.
In addition, the statistics bureau’s qualitative industrial survey indicated 15.8% of businessmen foresee production will fall again on June, while 77.3% say the situation will be stagnant and the remaining 6.9% said industrial activity will increase.
May’s fall was caused by negative results in steel and aluminum production (-13.5%), automobile production (-9%), tobacco (-2.7%), foods and beverages (-2%) and textile production (-2%).
Source: Buenos Aires Herald