Industrial production in Argentina grew 2.6% year-on-year and had the best start in 6 years

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Inspenet, May 13, 2023

In the first quarter of the year, industrial production grew 2.6% year-on-year, which represents the highest production for this period in 6 years. Particularly, in March the industry grew 3.1% compared to the same month last year and 3.4% compared to February (without seasonality).

In this sense, it is the March with the highest industrial production since at least 2016 (beginning of the series). Construction activity also boosted the economy in March with growth of 1.2% compared to the same month in 2022 and 3.5% compared to February.

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“These positive data, despite the difficulties we have, are not by chance, they are the result of the policies that Sergio Massa outlined and that we promote from the productive cabinet: we order the variables of the economy, supporting national production and employment. And with a clear political decision, the Argentine industry continues to grow and drive the activity”, affirmed the Secretary of Industry and Productive Development of the Nation, José Ignacio de Mendiguren.