LatinNews Daily - 10 February 2025

*Argentina’s national statistics institute (Indec) has released data on construction and industrial production for December revealing mixed results for December 2024 but steep annual declines in both sectors in 2024. Construction activity registered an accumulated decline of 27.4% in 2024 compared to the same period in 2023 and a decrease of 10.2% in December as compared to the same month in the previous year. However, activity was up 3.1% as compared to November 2024. Of the 13 construction sectors, nine recorded decreases compared to December 2023, with the most substantial in round iron and steel for construction (-39.1%), followed by bathroom ceramics (-32.0%), hollow bricks (-21.0%), and plasterboard (-20.2%). The annual figures for 2024 revealed sharp declines of 41.7% in bathroom ceramics, 41.5% in round iron and steel for construction, and 40.5% in tarmac compared to 2023. Industrial production saw an annual decrease of 9.4% for the period of 2024, although the latest monthly figure showed an 8.4% increase compared to December 2023 and a 0.2% rise from November 2024. All nine industrial production categories monitored by Indec reported decreases in 2024 as compared to 2023, with the most significant in non-metallic minerals and basic metals, registering a contraction of 20.4%. Only two categories registered declines in December as compared to December 2023: non-metallic minerals and basic metals (-4.9%) and wood, paper, editing & printing (-0.3%). Of the categories to register year-on-year increases in December, other equipment and appliances (+68.1%) and furniture and other manufacturing industries (+33.4%) were the most significant.