Overview
- Official INDEC data show manufacturing fell 8.7% year on year and 0.6% month on month in November, while construction declined 4.7% annually and 4.1% from October.
- The downturn was broad-based across 15 of 16 industrial divisions, led by textiles (-36.7%), vehicles and autoparts (-23%), metal products (-18.6%) and machinery and equipment (-17.9%).
- Companies and analysts attribute the factory slump to softer household demand and greater import penetration, and construction surveys point to a cautious outlook for December–February.
- Mining production rose 1.8% year on year in November and 3.2% in January–November, driven by crude oil extraction up 12.8% with non‑conventional output up 30.7% and natural gas down 3.9%.
- Lithium production reached 11,244 tonnes in November, up 66.4% year on year, and industry groups estimate 2025 mining exports near US$6 billion excluding hydrocarbons, supported by the RIGI incentive framework.