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2025年9月，阿根廷工业生产同比下降0.7%，较8月份的4.4%有所缓解。16个制造业部门中有7个部门出现下降，其中纺织品（-20.5%）、服装、皮革和鞋类（-14.0%）、金属制品（-11.8%）以及橡胶和塑料制品（-11.1%）领跌。非金属矿产（-6.0%）、机动车和零部件（-2.5%）以及基本金属（-1.0%）的产量也有所下降。相比之下，其他运输设备（16.4%）、精炼石油和核燃料（7.6%）、机械和设备（4.5%）、化学品（2.2%）以及食品和饮料（0.7%）的增长。按月计算，工业产出在8月份增长0.7%后下滑0.1%。

Argentina’s industrial production fell 0.7% year-on-year in September 2025, easing from a 4.4% drop in August. Seven of sixteen manufacturing divisions recorded declines, led by textiles (-20.5%), clothing, leather and footwear (-14.0%), metal products (-11.8%), and rubber and plastic products (-11.1%). Output also fell for non-metallic minerals (-6.0%), motor vehicles and parts (-2.5%), and basic metals (-1.0%). In contrast, growth was seen in other transport equipment (16.4%), refined petroleum and nuclear fuel (7.6%), machinery and equipment (4.5%), chemicals (2.2%), and food and beverages (0.7%). On a monthly basis, industrial output slipped 0.1% after a 0.7% gain in August.

阿根廷9月份工业产出年环比从之前的-4.4%攀升至-0.7%。阿根廷9月份工业产出年环比从之前的-4.4%攀升至-0.7%

Argentina Industrial Output n.s.a (YoY) climbed from previous -4.4% to -0.7% in September.Argentina Industrial Output n.s.a (YoY) climbed from previous -4.4% to -0.7% in September

周五，投资者评估收益报告时，Ibovespa指数跌至153000以下，创下历史新高。Suzano股价下跌0.8%，此前该公司公布第三季度净收入19.6亿雷亚尔，同比下降39%，调整后息税折旧摊销前利润为52亿雷亚尔。此外，Energisa股价下跌1.9%，第三季度净利润为6.484亿雷亚尔，下跌10.8%。同样，阿萨伊的净收入为1.95亿雷亚尔，下降了1.5%，损失了1%。从好的方面来看，巴西国家石油公司上涨0.2%，第三季度净收入为60.2亿美元，增长2.7%，收入为235亿美元。Alpargatas在第三季度净收入1.713亿雷亚尔时上涨了8%，增长了199%，息税折旧摊销前利润增长了87%。与此同时，巴西10月份的贸易顺差达到69.6亿美元，同比增长70%。

The Ibovespa was below the flatline to trade below 153,000 on Friday after reaching a record high, as investors assessed earnings reports. Suzano dropped 0.8% after reporting 3Q25 net income of R$1.96 billion, down 39% year-on-year, with adjusted EBITDA at R$5.2 billion, down 20%. Also, Energisa fell 1.9% on a 3Q25 net income of R$648.4 million, down 10.8%. Likewise, Assaí lost 1% after net income of R$195 million, down 1.5%. On the upside, Petrobras gained 0.2% with 3Q25 net income of US$6.02 billion, up 2.7%, and revenue at US$23.5 billion. Alpargatas jumped 8% on 3Q25 net income of R$171.3 million, up 199%, and EBITDA up 87%. Meanwhile, Brazil’s trade surplus reached US$6.96 billion in October, up 70% from a year earlier.

继8月份下降0.21%之后，巴西生产者价格指数在2025年9月环比下降0.25%，标志着生产者价格指数连续第八次下降。24项工业活动中有12项价格下跌，其中木材（-3.08%）、服装（-2.29%）和其他化学产品（-1.75%）跌幅最大。食品价格下跌0.4%，连续五个月下跌。纸张和纸浆下降0.85%，机械设备下降1.17%。相比之下，印刷业上涨3.59%，采矿业上涨0.53%，石油炼制和生物燃料上涨0.21%，制药上涨1.49%，冶金微涨0.14%，机动车上涨0.50%。按主要经济类别划分，资本货物下降0.45%，中间产品下降0.60%，而消费品增长0.29%。生产者价格同比下降0.4%。

Brazil’s producer prices fell 0.25% month-on-month in September 2025, following a 0.21% drop in August, marking the eighth consecutive decline in the PPI. Prices decreased in 12 of 24 industrial activities, led by wood (-3.08%), apparel (-2.29%), and other chemical products (-1.75%). Food prices fell 0.4%, extending their losing streak to five months. Paper and pulp dropped 0.85%, while machinery and equipment were down 1.17%. In contrast, printing rose 3.59%, mining gained 0.53%, petroleum refining and biofuels increased 0.21%, pharmaceuticals advanced 1.49%, metallurgy edged up 0.14%, and motor vehicles rose 0.50%. By major economic category, capital goods declined 0.45%, intermediate goods 0.60%, while consumer goods increased 0.29%. Year-on-year, producer prices fell 0.4%.