Argentina snaps 15mth streak of falling industrial output in May

June 29, 2017

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Argentina’s industrial production turned positive in May, official data showed on Thursday, breaking a 15-month streak of declines and providing a glimmer of hope for the lacklustre economy four months before crucial midterm elections.

The 2.7% increase in output versus May 2016 was below median expectations in a Reuters poll of analysts for a 3.5% increase. The positive reading was nonetheless welcome in a country hit by high inflation that has reduced domestic consumption and weakness in main trade partner Brazil.

Category: General