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Activity of SME manufacturing industry Argentina It was down 20.4% year-on-year in June last year and 3.1% from May last year, industry sources reported on Sunday.
June marked the seventh consecutive month of year-on-year decline in economic activity, according to a report from the Argentine Confederation of Medium Enterprises (CAME).
As a result, the cumulative decline in the first half of the year reached 19.2%.
The report showed that installed capacity utilization fell by more than 10 percentage points to just 60.1% in June, a figure the company said “reflects the complex situation the industry is experiencing.”
“While costs and prices remained relatively stable this month, they were not enough to awaken demand reflecting the decline in household purchasing power,” CAME said.
In the first half of the year, various industrial sectors Argentina In the face of high inflation (271.5% year-on-year in June and 79.8% in the first half of the year) and a sharp drop in demand due to the collapse of consumption, Argentine President Javier Milley launches major fiscal adjustmentWill take office in December 2023.
Last year, Argentina’s industry fell by 1.8%, but grew by 4.2% in 2022.
(Information from EFE)
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