In November, industry grew by 0.8% while construction decreased by 0.5%

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The industry had last November an advance of 0.8% compared to October, as reported this Thursday by the National Institute of Statistics and Censuses (Indec). At the same time, construction activity was recorded a decline of 0.5% over the same period.

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The sector data slightly improve the trend shown by the sector, which had monthly declines of 1.3% in October and 1.1% last September.

In annual terms, manufacturing activity increased by 1.4% in November, the tenth consecutive increase in the indicator and the lowest since January 2022, confirming the slowdown in the pace of expansion.

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In November they were observed interim advances in 10 of the 16 branches included in the manufacturing indicator.

The industrial branches that recorded the greatest expansion were, in order of incidence in the general level of activity, the manufacturing of clothing, leather and footwear (8.6%), the metallurgical industry (5.6%) and the production automotive (7.3%) .

According to official data, industrial production accumulated growth of 5.2% in the first 11 months of the year.

In the case of construction, with the drop in November, activity has been contracting for four consecutive months.

According to official data, construction recorded a decline of 1.5% compared to the same month in 2021.

Meanwhile, as reported by INDEC, the level of activity of the sector accumulated an increase of 4.8% in the first eleven months of the year. It already adds five consecutive months in which the cumulative year has retreated, from the peak of the 6.5% expansion in June.

On the other hand, jobs in this segment increased by 17.2% year-on-year last October, a 456,943.

Construction activity had recovered by 30.8% in 2021 after the disruption caused by the pandemic in 2020.


Source: Clarin

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