ARGENTINA: Textile industry leads industrial output growth

BUENOS AIRES: Argentina's industrial output grew in May from April at the fastest pace in three months; it was led by the textile and pulp and paper industries; the National Statistics Institute reported in Buenos Aires on June 16.

Industrial production rose a seasonally adjusted 0.9 percent in May from April and 7.3 percent from the same month last year.

Argentina's economy, the second biggest in South America, is heading to its fourth straight year of economic growth after expanding more than 8 percent in each of the past three years.

Economists say companies need to boost investment to avoid a slowdown of the economy.

The country needs to encourage investment to expand the company's production capacity, otherwise there will be bottle neck that will affect the future indicators; Bertrand said.

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Added: June 19, 2006 Source: Agencies
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