Industry to grow five per cent next year

Industry to grow five per cent next year
Published: 27 December 2004

Argentine industry will grow by a minimum of five per cent next year, which makes it almost inevitable that the sector will surpass the record figures seen in 1998, according to a report drafted by the Production Studies Center at the Secretariat of Industry. Nevertheless, manufacturing activity will increase at a rate more in line with economic expansion, which would be lower than the growth of more than 10 per cent seen in the last two years. The document also stated that the automobile, household appliance and construction sectors will enjoy the largest growth in 2005.

The center stated in the document, average growth for industry next year will be "5% or even higher". It predicted that "those sectors oriented towards the domestic economy, that have been evolving favorably in recent months, will continue to expand thanks to the recovery in domestic demand". Within this group, it highlighted durable consumer products and investments in such products as construction supplies and non-metallic minerals such as cement.