The Production of the Buenos Aires manufacturing industry registered a year-on-year growth of 11.8% in August, while in the first eight months of the current year the accumulated improvement is 19%, reported this Sunday the provincial Ministry of Finance and Finance.
“The Buenos Aires industry continues to show signs of recovery and growth, definitively breaking the pre-pandemic ceiling and registering industrial dynamism in a comprehensive and diversified manner. August is the 3rd consecutive month that is above the equivalent level of 2019, confirming that the recovery goes beyond the pre-pandemic “, highlighted the Minister of Finance, Pablo López.
The official explained that in August there were year-on-year increases in eight of the eleven blocks that make up the Buenos Aires industrial index, among which the items “textiles and leather, motor vehicles, non-metallic minerals and common metals” stood out.
“This recovery is only possible from a present state that directs all its efforts to deepen industrial growth. The results are accompanying, but we are not satisfied: we will continue to underpin this strategic activity, which has enormous multiplier effects throughout the economy, ”said López.
According to an official statement, the Synthetic Indicator of the Manufacturing Industry (ISIM) prepared by the Provincial Statistics Office also shows in August a 1.6% growth compared to July this year.
Furthermore the indicator shows that August’s level exceeded that of the same month of 2019, being the sixth consecutive month of increase.
On the other hand, the items that marked the highest growth compared to the same month of 2020 were: Textiles and leather (51.2%); Motor vehicles (42.6%); Non-Metallic Minerals (29.8%); Common Metals (25.2%); and Oil refining (16.2%).
The objective of the Synthetic Indicator of the Manufacturing Industry of the province of Buenos Aires (ISIM) carried out by the Provincial Directorate of Statistics is to have a monthly indicator that allows observing the behavior of the provincial industrial activity.
It is constituted by monitoring and estimating the so-called Industrial Blocks, made up of groups of industrial activities with common characteristics, through monthly estimates on the provincial manufacturing sector based on information from the Monthly Industrial Survey carried out by INDEC and data obtained by own surveys carried out by said Directorate.
