The average utilization rate of the manufacturing industry in Argentina has reached 59.7 percent in July against 54.5 percent in June, according to the country’s statistics institute, INDEC.
It was the highest monthly rate in the year, reflecting the positive impact of the sectors of oil refining (83.1 percent), chemical products (65.7 percent), food (61.5 percent), basic metals (61.5 percent), and pulp and paper (60.3 percent).
On the negative side, non-metallic minerals (52.3 percent), automotive (52.2 percent), machinery (51.1 percent), textiles (49.0 percent), printing (48.8 percent), tobacco (47.9 percent), and rubber and plastics (44.9 percent).
On yearly basis, the average utilization rate of the industry in July actually declined by 8.15 percent from the 65.0 percent achieved in July 2023.