ARGENTINA · ECONOMY
Key Facts
- The country Argentina, one of South America’s largest economies, is led by President Javier Milei.
- What happened Factory output fell 1.8% in September 2026 compared with September 2025.
- The trend August fell 3.1% after revision, and the first nine months are down 2.6%.
- The detail Ten of 16 industrial divisions shrank, and the car sector fell 3.5%.
- Power Index Argentina ranks 4th of 14 in The Rio Times Latin America Power Index, with 60.2 points (November 2026 edition).
Argentina’s factories made 1.8% less in September 2026 than a year earlier, the national statistics institute INDEC said on Friday 6 November 2026. The fall is smaller than the 3.1% drop in August, but it is the third month in a row below the level of a year earlier.
For US readers, the number shows that factory output under President Javier Milei is still below last year’s level. It matters to investors in Argentine stocks and bonds, because a weak industrial base limits how fast the economy can grow.
What Happened
INDEC, which is Argentina’s official statistics agency, publishes a monthly index of manufacturing output. The index compares each month with the same month of the year before.
After removing normal seasonal swings, output rose 0.7% from August. The smoother trend line, which INDEC uses to show the underlying direction, slipped 0.4% for the month.
What the Numbers Show
Ten of the 16 industrial divisions produced less than a year earlier. The division covering cars, bodies, trailers and auto parts slid 3.5% from a year earlier.
Food and drink slipped 0.1%. Chemicals, wood and paper, and non-metallic minerals were among the divisions that grew.
A Weak Year So Far
Output has now been below the year-earlier level in July, August and September. Across January to September, production is 2.6% below the same period of 2025.
July was the low point, with a 5.0% fall from a year earlier. August then eased to a 3.1% fall after revision, and September narrowed the gap again to 1.8%.
Our earlier reports covered the rise in Argentina’s jobless rate and a university’s warning of recession risk. Both fit the picture of an economy where output has been weak this year.
What It Means for You
If you hold Argentine stocks or US-listed Argentine shares, weak factory output is a caution sign for the home economy. INDEC’s data covers production only, so it says nothing about prices or farm and energy exports.
Travelers will notice little day to day. US firms that sell machinery or parts to Argentine plants should wait for the October data before reading the monthly gain as a turn.
What Is Not Known
INDEC gives no cause for the monthly moves, so it is not known how much comes from weak demand, imports or energy costs. The September figures are marked provisional and may be revised.
It is also not known whether the 0.7% monthly gain is the start of a recovery or a one-off. The next test is the October figure, due on Wednesday 9 December 2026.
For the wider setting, see our explainer on Argentina and the United States and the report on Argentina’s October tax revenue. Both give context on the economy and its ties to Washington.
More: Argentina news in English, every day from The Rio Times.
Frequently Asked Questions
How Much Did Argentina’s Factory Output Fall in September?
The national statistics institute, INDEC, says industrial output fell 1.8% from September 2025. For January to September 2026 the fall is 2.6%.
Is Argentina’s Industry Recovering?
The signs are mixed. Output rose 0.7% from August after seasonal adjustment, but the smoother trend line fell 0.4% and the year-on-year figure is still negative.
Which Industries Struggled in September?
Ten of the 16 divisions fell from a year earlier, including the car sector (3.5%). Chemicals, wood and paper, and non-metallic minerals grew.
When Is the Next Industrial Output Release?
INDEC lists the October 2026 figures for Wednesday 9 December 2026. They will show whether September’s monthly gain lasts.
Sources: INDEC, Manufacturing Production Index (IPI manufacturero), September 2026, 6 November 2026; INDEC release calendar.
In depth
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