Buenos Aires, February 25 (NA) – Industrial production fell 4.4% year-on-year in January but rebounded 1.2% compared to December, according to the Industrial Production Index (IPI) prepared by the Orlando J. Ferreres consultancy. The report, accessed by the Argentine News Agency (NA), showed that industrial production in January improved by 1.2% compared to December, ending three consecutive months of negative numbers. Regarding the year-on-year comparison, the report clarified that “the figures for the first two months may include distortions due to vacation periods and plant shutdowns, which can occur one year in January and another in February, altering the measurement when looking at a single month in isolation”. Analyzing the estimated projection, the consultancy stated that “going forward, we understand that during the first part of the year we will see some tensions in the industry, mainly related to lower levels of domestic consumption”. At the same time, it emphasized that “we expect the more stable macroeconomic context, with greater confidence and an improvement in household incomes, to lead to a eventual reactivation of industrial activity”. Performance by sector Food, Beverages and Tobacco: this sector recorded a 2.9% year-on-year decline in January. Cattle slaughter accelerated its contraction to 11.8%, and oil production marked a 0.6% annual decline. Machinery and Equipment: with a 23.9% drop in January, the machinery and equipment sector records its seventh consecutive contraction for the year-on-year measurement. In the detail of the automotive sector, production recorded a sharp drop of 30.1% in the annual comparison. Basic Metals: the basic metals sector recorded a 1.0% contraction in January compared to the same month last year, where primary iron production was the main drop, dragging down the rest of the lines. Non-metallic minerals: non-metallic mineral production showed a 7.8% decline for the first month of the year, marking the third consecutive annual decline. The detail highlighted by the AFCP shows a 5.6% annual drop in the dispatch of Portland cement.
