Argentina’s industry and construction rebound monthly but remain down year over year

Argentina’s industrial output rose 1.9% from July in August, while construction activity increased 0.4%. Both sectors remained below year-earlier levels, the INDEC statistics agency reported.

After a sharp July decline, seasonally adjusted measures of industrial production and construction recovered in August. Argentina’s National Institute of Statistics and Census, known as INDEC, reported a 1.9% monthly increase in manufacturing output and a 0.4% rise in construction activity. In July, the two measures had fallen 5.1% and 4.4%, respectively.

The year-over-year figures remained negative. Industrial production was 3.2% below August 2025, and construction activity was down 4.4%. From January through August, manufacturing contracted 2.7% from a year earlier, while construction still posted a cumulative gain of 0.8%. The trend-cycle index fell 0.6% for industry and 1.1% for construction from July.

The industrial decline affected 11 of the 16 manufacturing divisions. Machinery and equipment had the largest effect on the overall result, with output down 24% year over year. Agricultural machinery production fell 37.9%. Output also decreased in other machinery and instruments, clothing, leather and footwear, tobacco products, metal goods, textiles and motor vehicles.

Construction weakness also appeared in materials consumption. Compared with August 2025, asphalt use fell 18.4%, gypsum 17%, lime 13%, ceramic floor and wall tiles 11.9%, and ceramic sanitary ware 11.4%. The monthly improvement after July’s sharp contraction has not yet reversed the broader annual decline.