Argentina’s manufacturing sector hits pandemic-era lows in July
Argentina’s industrial output fell 4.9% year-over-year in July, marking the sharpest monthly decline in 16 months and returning activity levels to 2020 pandemic lows. The sector has contracted 9% since Milei took office, with 13 of 16 subsectors posting negative growth. While oil refining and food production saw minor gains, machinery and textiles suffered severe drops. Analysts cite high energy costs, import competition, and stalled public works as primary drivers of the ongoing downturn.