The economic activity is on a slow and uneven rebound. That was the mood last Tuesday at the annual meeting of the Argentine Industrial Union. Far from a V-shaped recovery, large consumer goods companies expect to reach their 2022 and 2023 sales levels “within two or three years.” According to the latest survey by consulting firm Scentia, in October the drop was more than 20% year-over-year. Data from the National Institute of Statistics and Census (INDEC) also shows a slight drop in their month-over-month (MoM) indicator, as businesses are trying to rebuild the profit margins they lost this year.

As the worst of the drop is over, the controversial issue is now the speed of a seemingly multi-faceted recovery. The blow to production was one of the main topics of conversation between businessmen during the Annual Conference of the Argentine Industrial Union held this week.

The effect of the recession is uneven, sources say. Those that were hit the hardest are the metallurgical, textile and clothing sectors.

“I had the worst October since my factory opened,”........

© Buenos Aires Herald