Argentine manufacturing and construction see record rebound from pandemic lows
Data published today by Argentina's National Statistics and Census Institute (INDEC) show that industrial production rose by 55.9% in April from the same time last year, with construction jumping by 321.3%.
Both figures represent record year-ago rebounds, in part reflecting record declines of 33.2% in industry and 76.2% in construction in April 2020.
Compared to April 2019, this left industrial activity 4% higher and construction up 0.4% (though still down a seasonally adjusted 1.1%).
The industrial recovery was led by 756.5% jump in motor vehicles and parts, and 328.1% in apparel and footwear.
Construction was in turn led by higher concrete and brick outputs by over 1000% - encouraged by a 131.8% rise in January-April real estate sales from a year earlier, and 3.5% from January-April 2019.
The April 2020 lows came at the depths of a two-month nationwide lockdown order issued by President Alberto Fernández in an effort to delay a Covid-19 contagion wave.
While the country has since seen two massive Covid-19 waves - which have thus far killed over 82,000 - the March-May 2020 lockdown was widely credited with buying the nation's health system enough time to beef up its ICU bed capacity by 50% in just months.
Today's economic data reflect the strong recovery in Argentina's economy since the March-April 2020 lockdown collapse - but also showed a marked plateauing in growth since January.
Industry was up 21.3% so far this year - but while edging up 0.3% a month in April, it remained 0.2% below January 2021 highs.
Construction was similarly up 70.9% so far in 2021 - but slowed by 2.2% monthly in April, and 7.3% from January highs.
The rebound marks a sharp turnaround from a nine-year industrial slump: according to the Argentine Industrial Union (UIA), a leading trade group, from 2011 to 2020 Argentine manufacturing fell 22% - mostly during the 2016-19 Macrisis (-13.1%) and last year's lockdown (-6.3%).
At: https://translate.google.com/translate?sl=es&tl=en&u=https://www.telam.com.ar/notas/202106/557013-actividad-industrial-indec.html
Argentine President Alberto Fernández inspects sneakers at the recently reopened Dass footwear plant in Eldorado, Misiones Province.
The plant, which employed 1500 as recently as 2015, shut down during former President Mauricio Macri's "Macrisis" in 2018.
Its reopening on May 18th, albeit with 360 employees, is part of a strong rebound in Argentina's battered manufacturing sector since a pandemic lockdown in April 2020 capped nine years of mostly declining output.
