The use of the Installed capacity of the Industry was 68.8% in November, with a growth of 5.5 points year-on-year compared to 63.3% of the same month last year, reported the National Institute of Statistics and Censuses (Indec).
This rise is correlated with the 10.1% year-on-year improvement in industrial activity in November, the agency reported.
The 5.5 percentage point increase is the ninth consecutive increase registered in the year-on-year comparison regarding the use of manufacturing capacity.
The use of installed capacity of 68.8% in November was also above the 64.7% in October.
#DatoINDEC
The industry used 68.8% of its installed capacity during November 2021 https://t.co/PDMgZTDeDs pic.twitter.com/Yh14AlCw15– INDEC Argentina (@INDECArgentina) January 12, 2022
From the Ministry of Economy they said that the November numbers mark the “second highest level since the start of the series, in 2016, remaining just 0.4 percentage points below the maximum of the series that occurred in November 2017, with 69.2% ”.
So far this year, the use of installed capacity in the industry accumulates growth of 8.1 percentage points year-on-year, while the level of activity reflects an improvement of 16.3% in the same period.
The productive sectors with the highest use of installed capacity in November were Basic Metals, with 86.9%; Non-Metallic Minerals, related to construction, 81.5%; Paper and cardboard, 79.5%; and Oil Refining, 77.5%.
In the year-on-year comparison, all the blocks that make up the indicator grew.
The Minister of Productive Development, Matías Kulfas, highlighted through his account on the social network Twitter, that the use of installed capacity “It reached 68.8% in November. It is the highest value in 4 years. We are getting out of hand with Argentine production and labor.”
The utilization of industrial installed capacity reached 68.8% in November. It is the highest value in 4 years.
We are getting out of hand with Argentine production and work. https://t.co/Cf2MthZGx9
– Matías Kulfas (@KulfasM) January 12, 2022
From the Palacio de Hacienda, for their part, they emphasized that the level of use of installed capacity in the industry in November grew 5.5 percentage points in the year-on-year comparison, accumulating the ninth consecutive rise.
“This is the second highest level since the beginning of the series in 2016, remaining just 0.4 percentage points below the maximum of the series that occurred in November 2017 (69.2%),” they said.
Based on the data reported by Indec, compared to November 2019, the use of installed capacity grew 8.1 percentage points, when it stood at 60.1%.
Last November, by blocks, the largest increases occurred in the Automotive categories, with an improvement of 21.5 percentage points compared to the same month of 2019; Basic metallic, with a positive difference of 13.3 percentage points; and Metalworking, with an increase of 11.8 percentage points.
Tobacco production items remain below the level of November 2019, with a negative difference of 6.8 percentage points; and Oil refining, 1.2 points below.
The indicator of the use of installed capacity in the industry measures the proportion used, in percentage terms, of the productive capacity of the industrial sector.
The survey comprises a panel of between 600 and 700 companies.
For its calculation, Indec takes into account what is effectively the maximum production that each sector can obtain with the capacity it has installed in its plants.
