Argentina: industry fears start to come true
17/06/2016
Shoe producers, tanners and other finished product manufacturers warned last year that the policies of new president, Mauricio Macri, who took office at the end of November, were likely to make an impact on their performance. Mr Macri campaigned vociferously for a more “liberalised” economy in the build-up to the elections.
The CGERA report examined the performance of hundreds of manufacturing companies, including producers of shoes and leathergoods and their suppliers. The organisation said many local producers have complained that customers in the domestic market have failed to place new orders with them and are opting to order cheaper products from outside Argentina instead. Some have even said customers have begun cancelling orders they had placed.
One positive note that CGERA raised on announcing the study is that these manufacturers have so far maintained their workforces at last year’s levels.
Share this story:
