Argentina’s industrial production falls as reforms fail to spur growth

[Judi Lynn]

Argentina’s industrial production falls as reforms fail to spur growth

July 30, 2016

BUENOS AIRES: Argentina’s industrial output contracted 6.4 per cent in June compared with the same month last year, national statistics agency Indec said on Thursday, underlining the nation’s difficulties in jump-starting a much-anticipated market turnaround.

Though economists widely believe manufacturing will remain in negative territory in the coming months, the June figure came in even below a Reuters forecast for a 5.0 per cent drop.

In the January-to-June period, manufacturing fell a total of 3.3 per cent compared with the same period last year.

Among the worst performing manufacturing sectors in June was the automobile industry, which registered a 21.6 per cent drop in annual terms, Indec said.

More:
http://gulftoday.ae/portal/2db5eba1-480a-43ff-8447-ea3e0e617da8.aspx

[forest444]

1. Deficits ballooning and business collapsing under a "pro-business" president. Imagine that.

The drop-off in construction was even worse: down 19.6% from the same time last year, for the worst semester in this key sector since the 2002 debacle.

No wonder Macri still refuses to publish unemployment reports!

https://translate.google.com/translate?hl=en&sl=es&u=http://www.cronista.com/economiapolitica/La-construccion-cayo-196-en-junio-y-cerro-el-peor-semestre-desde-2002-20160729-0051.html&prev=search

The budget deficit, meanwhile, is running at nearly three times the (already record) level set last year.

https://translate.google.com/translate?hl=en&sl=es&tl=en&u=http%3A%2F%2Fwww.politicargentina.com%2Fnotas%2F201607%2F15476-se-triplico-el-deficit-financiero-en-las-cuentas-publicas.html

Macri should consider changing his name to Bush.

Thank you, Judi, for this important update.

[FBaggins]

2. All while Venezuela says

"Industrial production? What's that?"

[Judi Lynn]

3. Mind-boggling, isn't it? And this is happening with Macri's undiluted support from Washington

and Wall Street. Undoubtedly he had some favors he could call in from Singer, too.

Thank you for the stats. Looks like a nightmare. So much progress straight backwards in such a short time.