BUENOS AIRES, April 25 Argentina's March
industrial production inched up 0.2 percent from a year earlier
and rose 1.5 percent versus the previous month, improving after
February's poor performance due to a jump in automobile
The year-on-year figure released on Thursday came
in below the 0.9 percent median growth forecast given in a
Reuters poll. Estimates ranged widely from a 2.1 percent decline
to growth of 3.5 percent.
In February, factory output surprised the market by sinking
4.4 percent from a year earlier and falling 1.5 percent versus
January, seasonally adjusted.
Argentina's economic growth slowed abruptly in 2012 after a
nearly nine-year boom. Inflation remains persistently high with
private estimates hovering near 25 percent a year - one of the
world's highest rates.
Industrial production fell in 2012 for the first time in a
decade, partly due to sagging demand for Argentine cars in
In March, automobile output surged 18.4 percent from a year
earlier and 45.8 percent versus February, possibly reflecting
planned maintenance shutdowns during that month.
The production of building materials including glass and
cement rose 7.6 percent year-on-year and 13.5 percent versus
February, the INDEC statistics agency reported.
In the first quarter, industrial production as a whole fell
1.3 percent year-on-year and 0.8 percent versus the fourth
quarter of 2012.