In December, industrial activity grew 4.8% year-on-year and 2.7% monthly in the seasonally adjusted measurement. With this recovery, it ended the year with an accumulated fall of 6.3%, similar to 2019. It was the third consecutive annual decline with a cumulative fall in industrial production of 14.8%.
In January, several major industrial sectors traded between 10% and 20% above the 2019 average before the onset of the Covid-19 pandemic. The measure is based on energy consumption and shows that the industry expanded by 7.9% y-o-y in January. The improvement drove by sectors such as the automotive sector, which grew 17.5% year-on-year; construction materials where cement dispatches rose 19.2% year-on-year and the production of materials in the large construction companies belonging to the Construya Group increased 24%; and rubber and plastics with a year-on-year expansion of 14%.
Toyota suspended once again production planned for a holiday because of the impossibility of gathering the number of workers necessary to guarantee the production lines' operation at the Zárate plant. Due to the workers' resistance to work outside the hours stipulated by the agreement to avoid income tax payment for the additional income from overtime. Toyota loses $15 million in exports.
The Ministry of Social Development will recharge 1.5 million Alimentar cards today, and beneficiaries will receive a 50% increase in the amounts received this month. 1.5 million cards of this plan for food purchase will mean that the Government will put some 10,000 million pesos ($ 112.26 mn) on the market for consumption.
Argentina is betting on freight railways' resurrection and the improvement of passenger railways with the help of Chinese state-owned companies, which today are suppliers to the Argentinean system and counterparts in projects worth almost 5 billion dollars.
Transactions between the bank and non-bank accounts in Argentina's digital payments ecosystem grew by more than 2000% in the last twelve months. Between January 2020 and January 2021, 74.8 million transactions made for an amount close to 931 billion pesos. ($ 10.45 bn).