2023-11-08 06:00:00
The industry and construction experienced year-on-year falls of 3.6% and 4.5% respectively in September and consolidated the downward path that they have been exhibiting in recent months.
According to what was reported by the National Institute of Statistics and Censuses (INDEC)industrial activity accumulated a decrease of 0.4% in the first nine months of the year compared to the same period in 2022. However, it marked a positive variation of 0.2% compared to August. At the same time, he recorded contractions in 9 of the 16 divisions throughout the ninth month of the year.
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Industry: 9 of 16 items registered falls
According to INDEC, in order to their impact on the general level, they noted decreases “Food and beverages” (-10.4%); “Machinery and equipment” (-9.7%); “Metal products” (-6.4%) and “Furniture and mattresses, and other manufacturing industries” (-7.1%).
The categories “Wood, paper, publishing and printing” also marked declines (-2.2%); “Basic metal industries” (-2.4%); “Non-metallic mineral products” (-2.9%); and “Tobacco products” (-5.9%). Likewise, “Motor vehicles, bodies, trailers and auto parts” had a decrease close to zero.
On the contrary, the items linked to “Chemical substances and products” (2.7%); ““Oil refining, coke and nuclear fuel” (6.3%); “Rubber and plastic products” (4.3%); “Clothing, leather and footwear” (3.5%); “Other equipment, devices and instruments” (1.7%); “Textile products” (1.9%) and “Other transport equipment” (2.1%).
Construction fell once more in September
At the same time, the INDEC reported that the synthetic indicator of the activity of the construction (ISAC) showed a year-on-year decline of 4.5% in September while the accumulated fall in the year reached 2.9%. Furthermore, the construction activity contracted 0.1% in relation to August.
Both the division construction paints (3.3%) such as asphalt (1.6%) and the rest of the inputs (1.3%) advanced when compared to the same month of the previous year.
On the contrary, there were losses in plasterboard (-13%); ceramic floors and coverings (-10%); ceramic sanitary ware (-9.5%); round iron and construction steels (-9.5%); plaster (-9%); Portland cement (-7.8%); limes (-6.5%); in manufactured concrete (-5.3%); and hollow bricks (-3.8%).
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Construction: unfavorable outlook for the coming months
The qualitative survey carried out by the statistical entity on the large companies in the sector showed unfavorable outlook for the next quarterwhich will be dominated by the tension inherent to the transfer of government.
“59.6% of companies that mainly carry out private works predict that the level of activity in the sector will not change during the next three months, while 34.6% estimate that it will decrease and 5.8% that will increase. Among the companies primarily dedicated to public works, 57.4% believe that the level of activity will decrease during the period October-December 2023, while 33.9% believe that it will not change and 8.7% that it will increase,” says the report released by INDEC.
The reasons behind the discouraging outlook are partly explained by the price instability (30.5%) and the fall in economic activity (25.7%) for companies dedicated to the private sector. Meanwhile, for firms focused on public construction, the most determining factors are the delays in the payment chain (27.8%) and the fall in economic activity (26,1%).
Both companies in the first segment and those in the second demand the design of policies that aim, above all, at price stability and the mitigation of tax burdens.
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