Argentina May Industrial Production Slumps 4.6% On Year
06/22/2012| 03:20pm US/Eastern
Industrial Production (Year-On-Year):
May Apr Mar Feb Jan May11 FY/2011
Forecast: +0.8% +1.9% +2.4% +3.1% +2.0% +7.8% --
Actual: -4.6% -0.5% +1.8% -0.8% +2.2% +9.0% +6.5%
BUENOS AIRES--Argentina's May industrial production fell a steep 4.6% on the year in May, marking a significant deterioration from the slowdown seen in recent months, the national statistics agency Indec reported Friday.
Analysts had expected Indec to report a 0.8% year-on-year increase in May's industrial production index.
Argentina's manufacturing sector is struggling in the face of a slowdown in top trading partner Brazil, cooling growth at home and government restrictions on needed manufacturing imports.
Write to Shane Romig at firstname.lastname@example.org
-Alberto Messer contributed to this article.