World industrial activity grew by 0.4% month-on-month in November and was 3.8% above the level of February 2020, the last month before the pandemic in Argentina, according to data from the Center for Production Studies (CEP XXI). ).
The month-on-month increase in the eleventh month of last year was the first after two months of falls and one unchanged, the CEP XXI specified in its World Industrial Activity Report.
Meanwhile, in year-on-year terms, the original indicator rose 1.4% and also expanded by 2.3% compared to the same month in 2019.
The increases in the global industry were mainly driven “by the performance of China, Turkey, Uruguay and Europe, which are part of the country’s largest trading partners,” said the Center that reports to the Ministry of Productive Development.
Specifically, the Asian giant grew 11.1% in November compared to the same month of 2019; while Uruguay and Turkey presented increases of 12.5% and 24.6%, respectively.
For its part, Europe registered a rise of 1.1%, after three months of contractions.
On the other hand, Brazil’s industrial production fell 2% versus the same month of 2019 and recorded its fifth contraction in a row.
The rest of Latin America, not including Brazil, rose an average of 3.5% compared to November 2019 and 5.6% year-on-year.
“For December, the prospects are more negative than positive among the main export destinations of our country. Only South Korea, China and Turkey registered increases in the PMI industrial expectations indicator, while those of Brazil and Mexico did not present variations”, anticipated the CEP XXI.
The document prepared by the CEP XXI analyzes the evolution of the activity of the industry of the most important commercial partners of Argentina and of the main economies of the world.
