Argentina’s industrial production increased in July after falling in the previous month, figures from the National Institute of Statistics showed Wednesday.
Industrial production rose a seasonally adjusted 0.3 percent year-over-year in June, in contrast to a 0.8 percent fall in the previous month.
Production of non-metallic mineral products rose 2.2 percent annually in July, while that of basic metals dropped 10.3 percent and automobile output fell by 7.7 percent.
On a monthly basis, industrial production rose at a slower pace of 0.3 percent in July, following the 1.2 percent increase in June. It was the fourth consecutive monthly rise.
For the January to July period, aggregate industrial production contracted a seasonally adjusted 1.1 percent compared to the corresponding period last year.
Looking ahead, majority of the companies expect a steady pace in domestic demand for August and project no change in stocks of finished products. Further, companies does not anticipate changes in the utilization of installed capacity for August and predict no change in staffing.
The material has been provided by InstaForex Company – www.instaforex.com