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by Eduardo Petazze
In the 1Q2014 mfg output fell 3.14% Y/Y (+0.19% Q/Q). Capacity utilization fell to 67.2% (-3.93% Y/Y)
We estimate that the value added in manufacturing fell by 2.7% Y/Y, at (2004) basic prices, during the first quarter
In April 2014 manufacturing production fell 4.02% Y/Y (+1.91% M/M, SA own estimate)
For 2014 we expect a drop in production of around 3.1%
The INDEC of Argentina monthly releases the Monthly Industrial Estimator (EMI), and installed capacity utilization in industry
Links:
EMI, advance estimate April 2014 - pdf, 4 pages
Capacity utilization April 2014 - pdf, 3 pages
EMI March 2014 (final) pdf, 10 pages
Summary
Mfg.
PMI
Million (2004)
pesos
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Own estimate
Million (2004)
pesos
2011Q1
2011Q2
2011Q3
2011Q4
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4
Own estimate
GVA, NSA
Mfg.
Y/Y
116,799.92 9.29%
128,207.08 9.77%
138,562.04 8.08%
143,020.52 3.22%
140,783.54 -1.56%
156,816.25 11.39%
174,754.94 11.44%
171,985.10 -1.58%
171,471.37 -0.30%
166,361.24 -2.98%
GVA, NSAAR
Mfg.
Y/Y
156,008.00 13.57%
178,054.93 14.08%
183,231.20 10.82%
181,725.63 7.86%
162,529.04 4.18%
172,241.85 -3.26%
176,692.80 -3.57%
176,476.69 -2.89%
159,630.52 -1.78%
173,255.54 0.59%
177,430.82 0.42%
175,568.59 -0.51%
155,352.81 -2.68%
169,166.68 -2.36%
171,151.23 -3.54%
169,774.23 -3.30%
Gross data
Manufacturing Production Index
2006=100 Overall
1
2
3
4
5
6
7
8
9
10
11
12
NSA
100.000 19.300
0.700
2.000
3.000
5.700
8.400 15.500
4.200
4.200 10.800 11.100 15.100
2011
132.133 124.290 110.146 119.952 112.385 126.052 91.434 131.420 135.150 139.119 111.906 195.910 139.424
2012
130.593 125.535 117.454 123.818 112.467 126.438 93.789 135.180 137.617 139.279 102.129 183.011 137.199
2013
130.313 124.111 111.507 122.806 111.519 118.709 92.445 135.136 136.780 147.977 105.565 189.870 131.795
2014
126.322 123.858 110.220 128.273 111.014 125.170 87.765 131.391 128.405 149.909 115.253 164.388 122.495
2011 Y/Y
6.55%
4.63% -1.75%
1.64%
2.27%
1.69% -4.00%
3.85%
3.74%
9.12%
5.93% 13.13% 13.59%
2012 Y/Y
-1.17%
1.00%
6.64%
3.22%
0.07%
0.31%
2.58%
2.86%
1.82%
0.11% -8.74% -6.58% -1.60%
2013 Y/Y
-0.21% -1.13% -5.06% -0.82% -0.84% -6.11% -1.43% -0.03% -0.61%
6.25%
3.36%
3.75% -3.94%
2014 Y/Y
-3.06% -0.20% -1.15%
4.45% -0.45%
5.44% -5.06% -2.77% -6.12%
1.31%
9.18% -13.42% -7.06%
Own estimate
Apr-13
135.063 121.505 108.295 119.865 110.170 115.370 82.622 143.058 135.888 146.462 109.514 214.240 145.920
May-13
134.817 120.944 120.848 127.659 114.274 122.428 86.432 131.536 133.604 154.495 109.889 229.294 136.700
Jun-13
125.667 114.237 92.316 127.706 112.444 121.656 91.176 124.460 134.548 146.792 99.197 183.203 134.675
Jul-13
129.895 121.894 112.762 127.715 115.239 120.463 93.953 121.879 138.431 143.406 109.489 206.235 128.510
Aug-13
133.590 125.658 109.065 127.143 115.442 119.927 97.040 128.988 139.069 149.768 113.339 203.300 137.020
Sep-13
133.354 126.655 106.811 133.314 111.208 122.181 96.585 128.877 136.989 152.793 110.164 208.223 132.244
Oct-13
139.238 133.980 115.497 133.505 118.144 123.637 95.122 138.399 141.373 161.902 113.989 218.927 136.193
Nov-13
133.743 128.092 113.756 132.627 111.542 123.507 92.306 138.567 140.649 158.298 112.570 181.092 140.247
Dec-13
130.860 142.600 108.382 124.338 111.048 123.330 96.229 142.510 134.208 148.837 111.135 132.920 138.740
Jan-14
114.176 116.668 124.836 111.825 105.765 119.615 95.278 130.683 131.897 135.771 99.327 102.717 112.173
Feb-14
116.684 115.202 115.023 112.659 101.918 118.006 85.857 128.669 117.686 126.292 92.098 155.877 112.465
Mar-14
125.139 119.629 106.679 119.061 111.759 122.947 78.382 140.144 126.601 143.959 113.244 169.838 117.942
Apr-14
129.637 126.280 115.906 122.771 107.737 126.062 88.449 145.875 126.651 147.815 117.816 171.472 120.893
May-14
129.887 119.580 111.649 131.824 112.436 126.209 79.963 129.435 126.010 157.419 118.888 195.596 129.729
Jun-14
122.537 112.420 94.767 130.643 109.689 122.876 83.584 123.682 123.486 148.875 112.639 169.689 123.428
Jul-14
125.835 121.043 107.508 131.220 113.329 124.886 88.149 121.925 127.983 150.464 117.400 176.395 121.335
Aug-14
130.096 126.236 106.235 132.812 114.617 127.264 91.000 123.912 130.292 154.042 123.272 182.727 127.494
Sep-14
129.950 127.675 106.991 136.558 113.317 129.572 90.969 126.340 130.759 156.937 120.168 180.165 124.238
Y/Y
Overall
1
2
3
4
5
6
7
8
9
10
11
12
Apr-13
1.67% -4.11% -28.46% -3.31% -5.86% -13.94% -8.21%
2.03% -7.85%
7.54% -5.74% 38.80% -3.46%
May-13
5.17% -3.77% -0.63% -5.17% -1.68% -6.39% -5.87%
9.56% -1.11%
3.27%
0.47% 30.94%
3.43%
Jun-13
3.82%
3.07% -10.82% -1.04% -2.04%
6.84% -1.96% -3.58%
4.57%
6.95% -8.95% 19.77%
8.74%
Jul-13
2.81%
5.10% -3.12% -0.77% -0.49% -0.74% -4.39% -5.15%
5.36%
2.33% 23.63%
8.20% -2.58%
Aug-13
-0.45% -0.65% -5.61%
1.47% -0.09% -8.94% -0.78%
3.70%
5.22%
7.97% 18.08% -9.67% -2.93%
Sep-13
-0.18% -2.75%
3.74%
6.36% -6.75% -9.17% -1.77% -2.48%
1.14% 10.76% 12.33%
4.94% -5.74%
Oct-13
-0.46% -0.37% -3.05%
4.02%
0.80% -5.86% -3.74% -1.82%
2.17%
6.61% 11.39% -3.04% -2.62%
Nov-13
-4.65% -5.79% -2.39%
1.39%
0.12% -0.50%
2.24% -5.05% -1.06%
8.10% 14.85% -19.41% -5.37%
Dec-13
-5.44%
0.94%
3.37%
5.48%
2.19%
2.35% -1.35% -3.94% -6.09%
7.58% 18.29% -28.45% -13.37%
Jan-14
-2.60% -1.85%
0.39%
7.06% -1.09%
5.91%
1.35% -7.84% -6.23%
1.77% 19.43% -13.48% -6.69%
Feb-14
-0.54%
0.28%
7.54%
8.86%
2.74%
8.35%
0.93% -6.71% -8.89% -3.56% 12.93%
0.22% -3.85%
Mar-14
-5.90% -0.32% -10.38%
6.44% -0.74% 11.61% -20.67% -2.43% -7.44% -3.14%
0.42% -25.10%
3.37%
Apr-14
-4.02%
3.93%
7.03%
2.42% -2.21%
9.27%
7.05%
1.97% -6.80%
0.92%
7.58% -19.96% -17.15%
May-14
-3.66% -1.13% -7.61%
3.26% -1.61%
3.09% -7.48% -1.60% -5.68%
1.89%
8.19% -14.70% -5.10%
Jun-14
-2.49% -1.59%
2.65%
2.30% -2.45%
1.00% -8.33% -0.63% -8.22%
1.42% 13.55% -7.38% -8.35%
Jul-14
-3.13% -0.70% -4.66%
2.74% -1.66%
3.67% -6.18%
0.04% -7.55%
4.92%
7.23% -14.47% -5.58%
Aug-14
-2.62%
0.46% -2.59%
4.46% -0.71%
6.12% -6.22% -3.94% -6.31%
2.85%
8.76% -10.12% -6.95%
Sep-14
-2.55%
0.81%
0.17%
2.43%
1.90%
6.05% -5.81% -1.97% -4.55%
2.71%
9.08% -13.48% -6.05%
Reference: 1) Foodstuffs and beverages 2) Product of snuff 3) Textile Products 4) Paper and cardboard 5) Editing and Printing 6) Oil Refining 7)
Chemical products 8) Rubber and plastic 9) Non-Metallic Minerals 10) Basic metal industries 11) Motor vehicles 12) Metalworking excluding
automotive
Last data