Industrial activity decreased by 1.4% in February compared to the same month last year, and 1.3% compared to January, INDEC reported today. Right away, The construction sector presented in February a decline of 6.3% on an annual basis and by 2.7% compared to the first month of the year.
Thus, in the first two months of the year, industry accumulated a growth of 2.5% and construction a decrease of 1.9%.
So, it’s confirmed that economic activity is shaping up to be a recessionary year, with a reduction that the private sector calculates will be between 1 and 5%.
In February of eight of the sixteen manufacturing divisions reported year-over-year declines.
In order of incidence on a general level, decreases were recorded for Foods and Beverages, -6.2%; Substances and chemical products, -6.4%; Wood, paper, publishing and printing, -4.8%; Machinery and equipment, -1.8%; Rubber and plastic products, -1.4% and Tobacco products, -8.7%.
For their part, the items Oil refining recorded increases, 22.8%; Motor vehicles and auto parts?, 8.5%; Clothing, leather goods and footwear, 8.8%; Furniture and mattresses, and other manufacturing industries, 5.5% and non-metallic mineral products, 2.9%.
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Source: Clarin
