Argentina is facing economic difficulties. In November, industrial production fell by 0.8% compared to the previous month. This is reported in a study by the consulting firm Orlando J. Ferreres & Asociados. This indicator cut off the expansion of the last few months. However, year-on-year, the indicator still recorded a 1.6% increase. The report warned that the monthly contraction "broke with the expansion of the last months" and, in turn, reaffirmed that "the annual performance showed a slowdown compared to previous periods". Similarly, "the annual measurement denoted a rise of 1.6%, decelerating compared to past figures, highlighting the drop in industry (-3.7%) and trade (-0.7%)". Continuing along this line, it was detailed that "the manufacturing industry did not have a good month of November in terms of industrial production"; while regarding "automotive production, 37,961 vehicles were produced, which implied a year-on-year drop of 29.3% and a 19.6% decrease compared to October". For its part, "the activity of electricity, gas and water had a year-on-year contraction of 0.5% in November and accumulated a 1.5% drop in the first eleven months of the year". Although, for example, the mining and quarrying sector "presented a year-on-year increase of 9.2% in November and accumulated a growth of 7.3% in what goes of 2025". Industry, construction, and commerce represent no less than 50% of GDP. If the Government does not act on these sectors, it will be very difficult to think of a recovery that translates into more jobs. Despite this, with optimism not yet matched by key productive sectors, the Minister of Economy, Luis Caputo, assures that this 2026 will be the best in decades for Argentina. The growth in energy sectors from Vaca Muerta, the prospects for mining in provinces like San Juan and Catamarca, and the committed investments in cutting-edge sectors such as artificial intelligence, give reasons to be optimistic. However, the problems facing key sectors such as industry, construction, and commerce make one see the glass as half-empty in any analysis. The world is changing, but Argentina has also had a notorious deterioration in terms of industrialization and employment. Since Javier Milei took office, there have been about 200,000 layoffs in the private sector, and the doubt is how they will recover, and at what pace. The industrial GDP per capita represented 30% in the 70s and now it barely rounds 18% of 2025. Construction was the sector most harmed by the Mileist policies, hand in hand with the decision to curb all public works. For the consulting firm Orlando J. Ferreres & Asociados, in November economic activity had a setback of 0.8%.
