The Industry Figures Sergio Massa Is Watching in a 2023-2026 Comparison

While keeping a low political profile and focusing on internal Peronist negotiations, Sergio Massa is closely following Argentina’s economic figures. His Renewal Front circulated a study on Wednesday claiming that industrial production fell 12% between the first halves of 2023 and 2026.

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around 275,000 jobs

The study, prepared by Fundación Encuentro, which is linked to Massa’s movement, also reported a 13.4% decline in construction activity during the same period. Registered private employment fell by 274,600 jobs, from 6,382,700 workers in December 2023 to 6,108,100 in May 2026, a 4.3% reduction.

The report said manufacturing output declined in 13 of the 14 sector groups it examined. Textiles suffered the sharpest drop, at 34%, followed by machinery and equipment at 33.4% and other equipment at 30%. Only five provinces, Tucumán, Neuquén, La Rioja, San Juan and Río Negro, recorded private-sector employment growth.

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does not improve even in sectors that show nominal growth

The steepest proportional employment losses occurred in Santa Cruz, down 18.7%, Tierra del Fuego, down 17.4%, and Chubut, down 14.6%. Buenos Aires posted the largest loss in absolute terms, with nearly 101,000 fewer registered private-sector jobs.

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operates with installed capacity of just 57.6% in the first half of 2026

Fundación Encuentro also pointed to a 24.2% fall in cement shipments and a 25.7% decline in nonmetallic mineral production. Retail trade fell 5.6%, while retail sales tracked by CAME dropped 11.9%. The report acknowledged nominal growth in agriculture, energy and financial intermediation, but said it did not offset the broader deterioration.

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that growth does not offset the overall deterioration