La Derecha Diario Industry, construction, and mining grew strongly in April.
These three data points reflect an encouraging outlook for the Argentine economy
In a context of strong economic recovery achieved by the Government of Javier Milei, three key sectors of the Argentine economy showed encouraging signs of growth during April.
The manufacturing industry, construction, and mining recorded significant advances both in the monthly and year-on-year comparisons, according to the National Institute of Statistics and Censuses (INDEC) on Monday.
This data represents a positive sign for the country's productive outlook and fuels expectations of sustained growth in economic activity.
The growth of the different sectors
First, the manufacturing industry grew by 2.2% in April compared to March, thus reversing the 3.9% decline recorded in the third month of the year. Even more noteworthy is the year-on-year increase of 8.5%, driven in part by a low comparison base, but also by a reactivation in various manufacturing branches.
In the cumulative total for the first four months of the year, the industrial sector shows a 6.7% increase compared to the same period in 2023.
Meanwhile, the construction sector also experienced a notable recovery. The Synthetic Indicator of Construction Activity (ISAC) recorded a 5.1% increase in April compared to March, offsetting the 3.6% contraction of the previous month.
The year-on-year comparison showed a 25.9% jump, a figure that marks a remarkable rebound after several months of decline. In the cumulative total for the first four months, construction grew by 10.4% compared to the same period of the previous year, suggesting a more sustained recovery in activity.
Finally, the INDEC report also highlighted an improvement in mining production, which grew by 1.6% year-on-year in April and 0.9% compared to March. Although this advance was more moderate compared to the other sectors, it remains a relevant figure given mining's strategic role in Argentine exports and in attracting foreign investment.
These three data points make up an encouraging outlook for the Argentine economy, which is going through a recovery phase after decades of crisis.
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