Sao Paulo — Argentinian industrial activity in July fell 5.7% year on year, National Institute of Statistics data showed Wednesday.
Industrial activity in the first seven months of 2018 was equal to the same period in 2017, according to Indec's Industrial Monthly Estimator.
Argentina had been recording 12-month consecutive increases since May 2017 up to April 2018 in the industrial activity. May (-1.2%), June (-8.1%) and July (-5.7%) showed a decline in the sector, with negative comparisons with the prior year.
July's automotive activity rose 12.9% compared with the same month in 2017 and in the January-July period rose 14.4% year on year.
Metalworking activity decreased 11.9% in July. For January-July, it fell 1% year on year.
Crude steel output in July increased 16.3% year on year, while in the January-July period output rose 19.5% compared with a year earlier.
Output in the basic metals industry segment in July increased 13% year on year and in the first seven months of the year it rose 15.7%, Indec said.
Indec surveyed several major companies and found stability was expected in September to October, with 44.1% predicting industrial activity would not change. Some 11.1% expected an increase and 44.8% estimated it would fall.
