Business

Industrial production falls 3.9% in November in 19th month of contraction

Argentine industrial production fell 3.9% year-on-year in November, accumulated a retraction of 6.9% in eleven months of 2019 and lost almost 53 thousand formal jobs in a year, thus accumulating 19 months of contraction, according to data from the Argentine Industrial Union (UIA). The most affected sectors were automotive industry (-26.4%), basic metals (-15.4%), and metalworking (-7.1%). The rest of the items registered higher levels of activity during November, such as the textile industry (+ 10.8%). In November, exports of manufactured goods of industrial origin (MOI) expanded 3.8%.

Source: Ámbito