Argentina's industrial output is believed to have grown 2,4 percent year-on-year in November due to a strong performance in the construction sector, according to the average of a Reuters poll published on Wednesday (27.12.2017).
With the positive data for November, the Monthly Industrial Estimator (EMI) would accumulate its seventh consecutive month of increases, after registering its last negative data in April, when it registered a decline of 2,6%.
The projections of three local and two foreign analysts also showed a improvement in the median of 2,6% year-on-year for the EMI corresponding to the eleventh month of the year.
The segment again showed the largest year-on-year increase (…), in line with the growth that construction is showing. As a result, it is positioned as the sector that higher growth"accumulated in the year, said the consulting firm Orlando Ferreres & Asociados.
The disparate estimates among analysts ranged from a minimum increase of 0,8% to a maximum of 3,5% for the year-on-year measurement of industrial production in November.
"One month before the end of the year, industrial production has once again provided grounds to justify that it is on a path of sustained recovery," added Ferreres.
The National Institute of Statistics and Census (INDEC) will report the EMI for November this Thursday afternoon.
Source: Reuters
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