For September, it is estimated that the industry fell 0.4% monthly and 3.3% annually (according to the Monthly Indicator of Industrial Activity), which confirms the accumulated weakness in manufacturing and construction. In contrast, services showed a more favorable performance, with a slight monthly advance of 0.1% and an annual growth of 1.1%.
For October, zero growth is projected, a contraction for manufacturing of 2.1% annually and a rebound of 0.9% for services.
An analysis by Monex warns that the industrial sector, between January and August, already accumulated an annual decline of 1.8% in original figures, which suggests that the loss of manufacturing traction and the slowdown in construction will continue to condition the end of the year.
“In parallel, business confidence remains in contraction territory in the sectors related to manufacturing, construction and commerce, once again showing signs of moderation after three months of progress,” the bank said.
This Friday the Global Economic Activity Indicator will be published with the final figures for September, which will confirm the magnitude of the anticipated contraction for this month.
