The level of industrial activity fell 3.1% in August compared to the same month last year, while construction fell 3% in the same comparison, the National Institute of Statistics and Censuses (Indec). Compared to last July, measured without seasonality, the manufacturing industrial production index (manufacturing IPI) showed an increase of 0.5%, accumulating a neutral change in January-August (0%) compared to the same period. For its part, the synthetic indicator of construction activity (ISAC) shows that the cumulative figure for the eight months of 2023 shows a decrease of 2.7% compared to the same period in 2022. Meanwhile, in the seasonally adjusted comparison against the month of July, the August index showed a decrease of 1.2%, while in the trend-cycle series it registered an increase of 0.4% month-on-month. Regarding manufacturing activity, the decrease in production in August occurred because 11 of the 16 divisions that make up the index showed an annual decrease.

Source: Daily Nation October 07, 2023 05:49 UTC