Dark times for Argentina’sfashion production chain. According to the reference manufacturing industry index for the country, calculated by the National Institute of Statistics and Census (INDEC), production fell by 6.9% in the month of May, in comparison to the same period in 2018. The categories suffering the most are the clothing, leather goodsand footwearones. The trend confirms the country’s state of crisis.
The data
According to INDEC’s data, production in the above-mentioned sectors has contracted 12.4% during the month of May, in comparison to the previous period, and by 12% in the first five months of 2019. In details, leather goods dropped 8.4% in comparison to the previous year, while footwear and related components lost 6.9% during the month discussed. The decremental trend is allegedly caused, always according to the Argentine Institute, to the lower demand of clothing items– work ones included – of the internal marketplace.
