Overview
- Official INDEC data show a 3.3-point monthly drop and a year-over-year decline from 62.3%, confirming a reversal after two stronger months.
- Textiles plunged to 29.2% capacity use, with fabric output down 43.9% and cotton yarn production down 37.1% from a year earlier.
- Oil refining led utilization at 86.5%, followed by basic metals at 73.3% and paper and cardboard at 71.2%, highlighting sharp sectoral divergence.
- Weaker segments included metalworking excluding autos at 39.9%, rubber and plastics at 41.0%, autos at 46.3%, and tobacco at 44.9%, with industry sources also citing import competition.
- At the firm level, textile producer Hilados SA in Tucumán halted operations until February 28 with a minimal maintenance crew, raising concern for roughly 130 workers.