With the first quarter of the year about to close,
the recession deepens in the sectors based in the domestic market.
With the data known so far, cars, food, steel and cement are among the sectors hardest hit by the drop in activity.
A CAME report shows that the SME manufacturing industry
contracted 9.9% in February compared to the same month last year
when measured at constant prices, discounting the effect of inflation. It is the third consecutive month in which factory activity has fallen, although the rate slowed after having fallen between 27% and 30% in December and January.
In food and beverages,
the drop in production among SMEs was 14.6% in the first two months
, while it reached 32% in chemicals.
"In February
, price increases in inputs to the sector continued, but at the same time deliveries normalized in the face of a somewhat more predictable economic situation
. Even so, companies pointed out damages due to cost increases, mainly in energy and transportation. transportation," they indicated from CAME.
On the other hand, the clothing sector grew 10.5% annually in February, although it registered a drop of 2.4% compared to January.
In the first two months of the year it accumulates a decrease of 1.3% annually
. "The beginning of the school year and sports activities raised the demand of SMEs oriented to this segment. Today the biggest concern of the sector is the possibility of an opening in imports, which would take many industries out of the market," they stated from the entity.
In the chemical and plastic products sector
, activity contracted 23.1% annually in February
. With this result, in the first two months of the year it accumulates a decrease of 31.2%. Companies that import inputs indicated that despite the Bopreal issued by the national government, they continue to have problems paying off foreign debts and that prevents them from purchasing inputs.
With 323,600 tons,
crude steel production fell by 20.6% in February compared to the previous month and by 9.7% year-on-year.
For its part, the drop in laminate production was even greater: 45.5% year-on-year and 38.6% vs. The last month.
"
There are still no signs of recovery in demand from the steel value chain
, with the exception of the energy sector that continues to pull. Both construction, white goods and packaging continue to decline, while the agricultural machinery sector is still does not rebound despite the good prospects for the coarse harvest," they pointed out from the Argentine Chamber of Steel.
The construction sector continued its decline during the month of February.
Cement shipments showed a drop of 10.8% compared to last January and a drop of 23.4% year-on-year.
For its part, the Construya index, which measures sales of construction supplies ranging from bricks to ceramics and faucets,
registered a 26.6% year-on-year decrease in February
, although there was a 6.8% rebound compared to January.
“In the second month of the year we observed a slight improvement in the sale of construction materials, but
we are still well below last year
. Uncertainty about the near future is still very high and companies are expectant about the evolution of the economic plan,” explained Construya.
In this way, the accumulated from February to December closed 28% below the same period of the previous year. In the midst of this stoppage,
the Argentine Chamber of Construction specifies that there are 100,000 workers who were left without jobs,
largely due to the stoppage of public works.
The automotive sector registered
a drop of 19.0% in February compared to the same month of the previous year and a decline of 18.2% in the two-month period.
The only March data known so far does not give room for illusion: patents fell 36.6% in March and
30% so far this year
, in the midst of a crisis that has already led companies to suspend workers and lay off workers. lower contracts.
Consumption decline
In February, the Consumption Indicator (IC) of the Argentine Chamber of Commerce and Services (CAC)
fell 3.5% in the interannual comparison
, while it had a seasonally adjusted increase of 1.5% compared to January.
"As in January, high inflation rates continued to impact people's purchasing power,
deepening the fall in consumption due to the real loss of purchasing power
," the CAC points out.
Along with this, they mention that "
the cut in allocations, subsidies in real terms,
along with the adjustment of some joint ventures below the inflation rate, had a negative impact on the consumption capacity of families, which was to be expected in a fiscal adjustment framework." , to achieve the balance or fiscal surplus necessary to avoid monetary financing and the consequent resulting inflation."
The segments that showed the greatest loss in February
were recreation and transportation
, with a decrease of 13.2% and 2.3%, respectively.
In this way,
the index accumulates a decrease of 2.7% year-on-year in the first two months of the year.