Petrochemical production fell 11% in January

According to data from the Chamber of the Chemical and Petrochemical Industry (CIQyP), production in January, measured in volumes, fell 11% compared to the same period last year. The entity points out that the drop was due to plant shutdowns caused by raw material shortages or unscheduled maintenance. Sales in the local market improved by 5% compared to a year ago. Exports, on the other hand, fell 19% during the same period. And the sector's installed capacity showed an average utilization of 58% for primary and intermediate products and 83% for petrochemical products.

Despite the drought, record $27.2 bn in foreign currency revenues expected from agriculture

The drought that is currently affecting the soybean and corn campaign in the core region -the most productive in Argentina- is causing a drop in production and the estimated foreign currency income for this year. In any case, the news continues to be encouraging for the local economy because, despite this scenario, a revenue of just over $27.2 billion expected, representing a historical record, according to the new projections of the Rosario Stock Exchange.

Construction costs grew 5%.

The construction cost rose 5% in February to increase by 8.2% in the first two months of the year. In year-on-year terms, the increase reached 40.8%. According to INDEC, February's result resulted from a 4.6% increase in the Materials chapter, a 4.9% increase in Labor and a 7.4% increase in General Expenses.

Wholesale prices rose 6.1%

La inflación mayorista se aceleró al 6,1% en febrero, la cifra más alta en un año y medio. Los aumentos de precios estuvieron impulsados fundamentalmente por las subas en productos primarios nacionales (8%) de acuerdo con los datos informados este miércoles por el INDEC. Particularmente resaltaron los incrementos en petróleo crudo y gas (10,2%) y en productos agropecuarios (6,8%). Cabe recordar que ambos rubros también habían explicado la mayor parte de los aumentos de enero.