Overview

• Official INDEC data show manufacturing capacity utilization at 59.4% in August, up 1.2 points from July yet below 60% for the ninth consecutive month.
• Utilization fell versus a year earlier, down from 61.2% in August 2024, as INDEC’s industrial production index rose 0.6% month over month but declined 4.4% year over year.
• Stronger categories included oil refining at 86.1%, basic metal industries at 70.4%, and food and beverages at 66.6%.
• Weaker readings were recorded in metalworking excluding autos at 44.4% versus 50.8% a year earlier, automotive at 53.3% versus 59.9%, and textiles at 41.5%.
• Rubber and plastic products operated at 42.1% as tyre output fell 39.8% and plastic manufactures dropped 5.3%, with local reports citing high rates and political strains during President Javier Milei’s term.