Argentina Manufacturing PMI

(Qualitative Industrial Survey Net balance)

by Eduardo Petazze
Continued strong expectation of contraction in manufacturing activity for the month of May 2014. Expectations export
expansion so far are not consistent with the meager results of foreign trade.
Constructing a composite indicator for Argentina's manufacturing activity, type PMI, based on INDEC monthly qualitative
survey, published jointly with EMI Indicator (Industrial Monthly Estimator)
Qualitative
Inventories
Composite Domestic
Capacity
Hours
Industrial
Exports
Imports
of finished
Staffing
PMI
demand
utilization
worked
Survey
goods
Weighing
100.0%
20.0%
10.0%
15.0%
10.0%
25.0%
10.0%
10.0%
Jan -11
54.2%
58.9%
55.3%
54.2%
41.6%
55.2%
50.6%
57.3%
Feb -11
53.0%
55.3%
59.1%
54.2%
43.8%
53.2%
51.1%
51.1%
Mar -11
53.8%
55.7%
61.8%
55.3%
44.8%
53.7%
51.1%
51.6%
Apr -11
54.5%
57.8%
55.7%
54.3%
42.7%
56.2%
51.6%
57.8%
May -11
54.5%
58.3%
61.1%
55.7%
43.3%
54.6%
51.1%
53.6%
Jun -11
53.8%
57.7%
60.2%
55.6%
44.0%
54.0%
50.2%
50.2%
Jul -11
54.7%
57.3%
55.2%
54.8%
48.4%
56.2%
50.2%
55.8%
Aug -11
53.6%
56.6%
59.8%
54.1%
47.5%
53.5%
50.3%
50.6%
Sep -11
54.5%
58.1%
60.3%
54.6%
47.5%
55.1%
50.3%
51.1%
Oct -11
54.8%
58.3%
56.3%
52.2%
46.9%
57.9%
50.3%
54.7%
Nov -11
53.4%
56.6%
57.7%
53.5%
47.4%
53.8%
50.2%
50.8%
Dec -11
55.1%
57.9%
57.7%
55.3%
48.2%
57.4%
51.1%
51.7%
Jan -12
55.0%
59.4%
56.8%
52.2%
45.8%
58.8%
50.2%
53.6%
Feb -12
53.3%
56.6%
56.7%
53.5%
47.4%
53.8%
50.2%
50.8%
Mar -12
52.5%
53.5%
57.2%
51.5%
47.0%
54.0%
50.2%
51.0%
Apr -12
51.6%
52.8%
51.0%
51.6%
46.2%
52.6%
50.3%
53.8%
May -12
50.6%
51.5%
54.1%
51.0%
43.6%
51.3%
50.2%
50.4%
Jun -12
50.0%
50.3%
52.6%
49.0%
48.5%
50.2%
50.1%
49.0%
Jul -12
50.6%
51.5%
50.5%
49.0%
50.9%
50.5%
50.2%
51.6%
Aug -12
50.5%
51.1%
52.6%
49.0%
49.1%
50.7%
49.8%
51.5%
Sep -12
50.7%
51.1%
53.1%
50.5%
48.5%
50.5%
50.1%
51.5%
Oct -12
50.2%
50.4%
49.7%
49.4%
51.0%
50.2%
50.1%
50.6%
Nov -12
50.7%
51.2%
52.0%
51.5%
48.2%
50.6%
49.9%
50.6%
Dec -12
54.1%
56.2%
57.9%
55.0%
48.9%
55.1%
50.2%
51.7%
Jan -13
51.9%
53.7%
56.2%
52.7%
44.8%
51.6%
50.2%
52.6%
Feb -13
53.2%
55.9%
57.6%
54.0%
46.6%
53.5%
50.3%
51.5%
Mar -13
51.9%
53.0%
55.6%
52.0%
49.0%
52.0%
50.1%
50.6%
Apr -13
51.1%
52.1%
54.5%
53.1%
44.3%
51.1%
50.2%
50.5%
May -13
50.7%
50.5%
54.6%
50.5%
49.0%
50.7%
49.0%
50.6%
Jun -13
51.3%
51.5%
55.6%
51.5%
48.0%
51.0%
50.5%
51.5%
Jul -13
51.2%
52.0%
53.5%
52.6%
49.5%
50.5%
50.1%
50.2%
Aug -13
51.4%
52.0%
55.1%
51.0%
48.0%
51.0%
50.3%
53.0%
Sep -13
51.4%
53.0%
53.0%
51.0%
49.8%
50.5%
50.4%
52.6%
Oct -13
50.3%
51.5%
52.4%
52.1%
46.4%
49.8%
49.7%
49.0%
Nov -13
50.7%
51.0%
52.0%
51.0%
50.1%
49.9%
50.2%
51.2%
Dec -13
53.7%
55.6%
59.0%
53.4%
49.5%
54.4%
50.2%
51.2%
Jan -14
51.1%
51.0%
54.5%
51.6%
48.0%
50.7%
50.7%
51.8%
Feb -13
47.6%
46.7%
55.1%
48.5%
46.1%
46.1%
49.0%
45.1%
Mar -13
47.0%
46.1%
56.1%
47.5%
46.6%
45.1%
48.6%
43.1%
Apr -14
46.6%
47.0%
50.5%
47.4%
40.5%
45.9%
48.9%
46.5%
May -13
46.5%
46.1%
54.1%
45.6%
47.6%
44.6%
48.3%
43.1%
Source: Baseline data from the Qualitative Industrial Survey (EMI) of the INDEC computed as a diffusion index (100% of positive
responses plus 50% of those responding unchange)
Last data
Expectations for the month, from the previous month
Expectations for the quarter compared to the same quarter last year
Expectations for next year over the previous year