In September 2025, Argentina's industrial production fell by 0.7% compared to the same month of the previous year, according to data from the National Institute of Statistics and Censuses (Indec). The Manufacturing Production Index (IPI) also showed a 0.7% year-on-year decline. The main negative impacts came from 'Clothing, leather and footwear' (-14.0%), 'Textile products' (-20.5%), and 'Metal products' (-11.8%). Conversely, growth was recorded in 'Other transport equipment' (+16.4%), 'Other equipment, appliances and instruments' (+8.8%), and 'Petroleum refining, coke and nuclear fuel' (+7.6%).
In this context, the seasonally adjusted index showed a positive variation of 0.9% in September compared to August, but a negative year-on-year change of -0.1%. The accumulated January-September 2025 industrial production increased by 3.8% year-on-year.
Seven out of sixteen manufacturing divisions reported annual production drops. However, construction material consumption in September saw significant increases: spending on granite and limestone tiles rose by 42.9%, ceramic sanitary articles by 42.0%, and asphalt by 27.1%.
The construction sector also presented mixed trends. The Synthetic Indicator of Construction Activity (ISAC) rose by 6.8% in September year-on-year, and by 7.8% in the first nine months of 2025. However, employment in the private construction sector showed a 0.6% decrease in the January-August period compared to the previous year, despite a 3.3% increase in August.
Regarding future prospects, 67.0% of companies mainly engaged in private works foresee no change in the sector's activity level over the next three months, while 23.3% estimate it will decrease and 9.7% expect it to increase. Among companies dedicated to public works, 64.5% believe the activity level will remain stable, 22.2% anticipate a decrease, and 13.3% expect an increase.
