Overview
- Citing INDEC data released on Nov. 6, Argentina’s manufacturing output fell 1.8% year‑on‑year in September and the sector accumulated a 2.6% contraction through the first nine months of 2026.
- The seasonally adjusted measure showed a small monthly recovery of 0.7% versus August while the trend‑cycle indicator edged down 0.4%, indicating the short‑term uptick is fragile.
- Construction activity, measured by the ISAC, posted a clear rebound with a 5.1% year‑on‑year gain, a 7.8% rise on a seasonally adjusted monthly basis, and a 1.3% increase year‑to‑date, a move the economy minister highlighted on X.
- Industrial performance was highly mixed: machinery and agricultural equipment plunged (machinery −26.8%, agricultural machinery −45.4%) and electronics and household appliances fell sharply, while cement, chemicals, pharmaceuticals, biodiesel, wood/paper and other transport equipment registered notable gains.
- Producers say weaker local demand and stronger import competition explain many declines, autos were cushioned by a 6.8% rise in exports, and the divergence between construction and manufacturing could affect jobs, supply orders and near‑term policy decisions.