{"id":26505,"date":"2026-09-15T12:27:44","date_gmt":"2026-09-15T15:27:44","guid":{"rendered":"https:\/\/cliente1.publisher.highstack.com.ar\/?p=26505"},"modified":"2026-09-15T12:27:44","modified_gmt":"2026-09-15T15:27:44","slug":"credito-caro-cheques-rechazados-y-una-cifra-que-enciende-alertas-un-informe-privado-estima-que-hay-57-mil-empresas-en-mora","status":"publish","type":"post","link":"https:\/\/cliente1.publisher.highstack.com.ar\/?p=26505","title":{"rendered":"Cr\u00e9dito caro, cheques rechazados y una cifra que enciende alertas: un informe privado estima que hay 57 mil empresas en mora"},"content":{"rendered":"<div class=\"ai-tools\"><button type=\"button\" class=\"ai-tools-item\" aria-pressed=\"false\" aria-busy=\"true\" disabled id=\"ai-tool-listen\"><span class=\"ai-tools-icon\"><svg width=\"16\" height=\"16\" viewbox=\"0 0 16 16\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M14.99 9.22417C14.89 8.65466 14.5799 8.25501 14.0497 8.0352C14.0096 8.01522 13.9696 7.94528 13.9696 7.90532C13.9196 6.81627 13.6395 5.79716 13.0493 4.86797C12.0589 3.28934 10.6484 2.3102 8.80779 2.06042C6.8771 1.80064 5.1965 2.38014 3.81601 3.76893C2.69561 4.89794 2.10539 6.28673 2.04537 7.89533C2.04537 7.97526 2.01536 8.00523 1.94534 8.0352C1.35513 8.29498 1.03501 8.77456 1.01501 9.42399C0.994998 10.4731 0.994998 11.5222 1.01501 12.5712C1.02501 13.2507 1.53519 13.8701 2.19543 13.96C2.64559 14.02 3.10575 13.97 3.58592 13.97V13.8102C3.58592 11.9818 3.58592 10.1434 3.58592 8.31496C3.58592 7.93529 3.61593 7.54563 3.69596 7.16596C3.88603 6.2068 4.34619 5.38751 5.06645 4.73808C6.21686 3.69899 7.55734 3.34929 9.05788 3.71897C10.2483 4.00872 11.1486 4.7181 11.7889 5.78716C12.259 6.56648 12.4291 7.42573 12.4291 8.32495C12.4291 10.1534 12.4291 11.9918 12.4291 13.8301V14C12.8492 14 13.2494 14 13.6495 14C14.0497 13.99 14.3698 13.8002 14.6299 13.5004C14.8299 13.2706 14.93 12.9909 15 12.6911V9.29411C15 9.29411 14.98 9.26413 14.98 9.24415L14.99 9.22417Z\" fill=\"#e46211\"><\/path><path d=\"M5.08646 8.4948C5.04645 8.18507 4.74634 7.98525 4.45623 8.06518C4.21615 8.13512 4.0761 8.32495 4.0761 8.60471C4.0761 9.40401 4.0761 10.2133 4.0761 11.0126C4.0761 11.8119 4.0761 12.6312 4.0761 13.4505C4.0761 13.8401 4.44623 14.0899 4.78635 13.9401C5.03644 13.8301 5.10647 13.6203 5.10647 13.3606C5.10647 11.8019 5.10647 10.2333 5.10647 8.67464C5.10647 8.6147 5.10647 8.55475 5.09646 8.4948H5.08646Z\" fill=\"#e46211\"><\/path><path d=\"M11.2587 8.08516C11.0386 8.16509 10.9185 8.36492 10.9185 8.66465C10.9185 10.2333 10.9185 11.8119 10.9185 13.3805C10.9185 13.4405 10.9185 13.4904 10.9285 13.5504C10.9586 13.7902 11.1686 13.98 11.4087 13.99C11.7188 14 11.9489 13.7802 11.9489 13.4405C11.9489 12.6412 11.9489 11.8319 11.9489 11.0326V10.1933C11.9489 9.65379 11.9489 9.10427 11.9489 8.56474C11.9489 8.19506 11.5888 7.95527 11.2587 8.08516Z\" fill=\"#e46211\"><\/path><\/svg><\/span><span class=\"ai-tools-label\">Escuchar<\/span><\/button><button type=\"button\" class=\"ai-tools-item\" aria-pressed=\"false\" aria-busy=\"true\" disabled id=\"ai-tool-keypoints\"><span class=\"ai-tools-icon\"><svg width=\"16\" height=\"16\" viewbox=\"0 0 16 16\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M5.99679 1H12.4609C13.0887 1 13.6 1.52731 13.6 2.17489V13.8251C13.6 14.4727 13.0887 15 12.4609 15H3.53913C2.91126 15 2.39999 14.4727 2.39999 13.8251V9.19802V4.57092L5.99679 1Z\" stroke=\"#e46211\" stroke-width=\"1.2\" stroke-miterlimit=\"10\"><\/path><path d=\"M2.39999 5.38502H6.94416V3.94555V1\" stroke=\"#e46211\" stroke-width=\"1.2\" stroke-miterlimit=\"10\"><\/path><path d=\"M10.491 12.2L5.50657 12.2C5.32834 12.2 5.2037 11.8667 5.20008 11.517C5.19587 11.1484 5.32111 10.8 5.50657 10.8L10.4813 10.8C10.6632 10.8 10.795 11.105 10.7998 11.4804C10.8047 11.8341 10.6842 12.2 10.491 12.2Z\" fill=\"#e46211\"><\/path><path d=\"M10.491 9.4L5.50657 9.4C5.32834 9.4 5.2037 9.0666 5.20008 8.71694C5.19587 8.34831 5.32111 8 5.50657 8L10.4813 8C10.6632 8 10.795 8.30494 10.7998 8.68035C10.8047 9.03408 10.6842 9.4 10.491 9.4Z\" fill=\"#e46211\"><\/path><\/svg><\/span><span class=\"ai-tools-label\">Puntos clave<\/span><\/button><button type=\"button\" class=\"ai-tools-item\" aria-pressed=\"false\" aria-busy=\"true\" disabled id=\"ai-tool-summary\"><span class=\"ai-tools-icon\"><svg width=\"16\" height=\"16\" viewbox=\"0 0 16 16\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M10.1798 2.50989H2.00488C1.45082 2.50989 0.999667 2.97515 0.999667 3.54653V13.8259C0.999667 14.3973 1.45082 14.8626 2.00488 14.8626H9.87772C10.4318 14.8626 10.8829 14.3973 10.8829 13.8259V9.74329V8.13118\" stroke=\"#e46211\" stroke-width=\"1.5\" stroke-miterlimit=\"10\"><\/path><path d=\"M10.1892 0.937134C10.6648 0.938475 11.1562 1.16366 11.4167 1.62561C11.55 1.86167 11.6275 2.09395 11.6863 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7.3487 6.17847 7.27405C5.75409 7.12455 5.32309 6.86818 5.22729 6.30334C5.147 5.82785 5.20205 5.46325 5.37769 5.1842C5.55162 4.90818 5.8236 4.74853 6.1062 4.63733C6.38303 4.52841 6.70997 4.45202 6.99292 4.36975C7.28806 4.28393 7.55375 4.18824 7.76538 4.03772L7.93726 3.90491C8.30541 3.59437 8.45094 3.27848 8.54761 2.94592C8.60838 2.73677 8.64117 2.55614 8.70288 2.32092C8.76088 2.09995 8.83661 1.86635 8.96655 1.62756L9.073 1.4635C9.34447 1.10658 9.7727 0.936014 10.1892 0.937134ZM10.1785 3.151C9.91182 3.94374 9.55711 4.56476 9.04956 5.04163C8.6241 5.44134 8.10162 5.72923 7.45972 5.93909C8.77264 6.36001 9.87121 7.38936 10.2097 8.74377C10.4707 7.9695 10.8197 7.33816 11.3201 6.85217C11.7453 6.43925 12.271 6.142 12.9216 5.94495C11.6239 5.4965 10.5274 4.50683 10.1785 3.151Z\" fill=\"#e46211\" stroke=\"var(--gray-10)\" stroke-width=\"0.4\"><\/path><\/svg><\/span><span class=\"ai-tools-label\">Resumen<\/span><\/button><\/div>\n<div class=\"visual__image image-initial-width\"><picture><source srcset=\"https:\/\/www.infobae.com\/resizer\/v2\/EJCBZ3AWBZAMLCD3R4WIOKOLHY.jpg?auth=2bb7860482a60d2f2fe4e373381ffe6020857e675ed758a87a19d7c8da000fb7&amp;smart=true&amp;width=992&amp;height=661&amp;quality=85\" media=\"(min-width: 1000px)\"><\/source><source srcset=\"https:\/\/www.infobae.com\/resizer\/v2\/EJCBZ3AWBZAMLCD3R4WIOKOLHY.jpg?auth=2bb7860482a60d2f2fe4e373381ffe6020857e675ed758a87a19d7c8da000fb7&amp;smart=true&amp;width=768&amp;height=512&amp;quality=85\" media=\"(min-width: 768px)\"><\/source><source srcset=\"https:\/\/www.infobae.com\/resizer\/v2\/EJCBZ3AWBZAMLCD3R4WIOKOLHY.jpg?auth=2bb7860482a60d2f2fe4e373381ffe6020857e675ed758a87a19d7c8da000fb7&amp;smart=true&amp;width=577&amp;height=385&amp;quality=85\" media=\"(min-width: 580px)\"><\/source><source srcset=\"https:\/\/www.infobae.com\/resizer\/v2\/EJCBZ3AWBZAMLCD3R4WIOKOLHY.jpg?auth=2bb7860482a60d2f2fe4e373381ffe6020857e675ed758a87a19d7c8da000fb7&amp;smart=true&amp;width=420&amp;height=280&amp;quality=85\" media=\"(min-width: 350px)\"><\/source><source srcset=\"https:\/\/www.infobae.com\/resizer\/v2\/EJCBZ3AWBZAMLCD3R4WIOKOLHY.jpg?auth=2bb7860482a60d2f2fe4e373381ffe6020857e675ed758a87a19d7c8da000fb7&amp;smart=true&amp;width=350&amp;height=233&amp;quality=85\" media=\"(min-width: 80px)\"><\/source><img alt=\"Manos de una persona sobre una calculadora junto a varios documentos, notas de colores, una taza y una computadora\" class=\"global-image\" decoding=\"async\" fetchpriority=\"high\" height=\"3539\" loading=\"eager\" src=\"https:\/\/www.infobae.com\/resizer\/v2\/EJCBZ3AWBZAMLCD3R4WIOKOLHY.jpg?auth=2bb7860482a60d2f2fe4e373381ffe6020857e675ed758a87a19d7c8da000fb7&amp;smart=true&amp;width=350&amp;height=233&amp;quality=85\" width=\"5309\"><\/picture><\/div>\n<div class=\"sharebar-container display_flex sharebar-new\" style=\"opacity:1\">\n<div class=\"share-bar-article-date-container \"><span class=\"sharebar-article-date\">15 Sep, 2026 11:15 a. m. EST<\/span><\/div>\n<div class=\"sharebar-buttons-container display_flex\">\n<div aria-label=\"Guardar\" class=\"sharebar-buttons button-save\" role=\"button\" tabindex=\"0\"><svg width=\"9\" height=\"12\" viewbox=\"0 0 8 10\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"saved-icon saved\"><path d=\"M6.64286 0.5V9.31687L4.1116 7.16407L4.11106 7.16361C3.79894 6.89891 3.34392 6.89891 3.03179 7.16361L3.03126 7.16407L0.5 9.31687V0.5H6.64286Z\"><\/path><\/svg><span class=\"buttons-save-text\">Guardar<\/span><\/div>\n<div class=\"sharebar-buttons-separator\"><\/div>\n<p><button class=\"sharemenu-buttons display_flex\" aria-label=\"Compartir en Telegram\"><svg width=\"38\" height=\"38\" viewbox=\"0 0 38 38\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><rect x=\"0.5\" y=\"0.5\" width=\"37\" height=\"37\" rx=\"18.5\" fill=\"white\"><\/rect><rect x=\"0.5\" y=\"0.5\" width=\"37\" height=\"37\" rx=\"18.5\" stroke=\"#C2C2C2\"><\/rect><path d=\"M24.9696 12.5511L10.3405 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15.0383 17.6243C15.1805 18.3619 15.5983 18.9663 16.0426 19.5618C16.887 20.6638 17.8646 21.6237 19.1622 22.1925C19.7932 22.4769 20.4331 22.7613 21.1441 22.7613C21.2685 22.7613 21.393 22.7613 21.5085 22.7346C22.4506 22.5391 23.1172 22.0058 23.0816 21.0193C23.0816 20.9216 23.0194 20.7794 22.9483 20.7438C22.3973 20.4594 21.8462 20.2017 21.2863 19.9439Z\" fill=\"#555555\"><\/path><path d=\"M26.9482 17.8724C26.3972 13.4642 22.1401 10.3447 17.7229 11.1179C12.6481 11.9977 9.71521 17.2859 11.6883 21.9963C12.1948 22.6629 12.0615 23.3472 11.8216 24.0849C11.5105 25.027 11.2794 26.0046 11.0039 27C11.1194 26.9733 11.1994 26.9644 11.2794 26.9378C12.5059 26.6178 13.7324 26.3068 14.9411 25.9868C15.1544 25.9335 15.3144 25.9602 15.5099 26.0579C17.1719 26.8667 18.9227 27.0978 20.718 26.7067C24.833 25.7913 27.4548 22.0496 26.9305 17.8902L26.9482 17.8724ZM20.0515 25.4624C18.4784 25.7113 17.003 25.3913 15.6166 24.6003C15.5099 24.5381 15.3411 24.5115 15.2077 24.547C14.4612 24.7248 13.7146 24.9292 12.9147 25.1336C13.1192 24.3693 13.3058 23.6672 13.5102 22.9473C13.5635 22.7606 13.5369 22.6273 13.4391 22.4673C11.0039 18.5479 13.1014 13.5442 17.6163 12.5043C21.2868 11.6511 25.0285 14.1841 25.5884 17.908C26.1395 21.5519 23.6954 24.8936 20.0515 25.4624Z\" fill=\"#555555\"><\/path><\/svg><\/button><\/div>\n<\/div>\n<p class=\"paragraph\" data-paragraph-number=\"1\">El Sistema de Evaluaci\u00f3n de Riesgo Financiero (SERF) de <b>Fidelitas<\/b> marc\u00f3 38,3 puntos en agosto, tras una baja mensual de 6,9 puntos, y ubic\u00f3 el escenario empresario dentro de la categor\u00eda de <b>\u201cRiesgo Elevado\u201d<\/b>. El dato coincidi\u00f3 con un alza de la cantidad de firmas con pagos irregulares, que lleg\u00f3 a 57.045 en julio.<\/p>\n<div class=\"marfeel-recommender marfeel-recommender-1\"><\/div>\n<p class=\"paragraph\" data-paragraph-number=\"2\">El informe de la compa\u00f1\u00eda, publicado en septiembre y fechado en <b>Buenos Aires<\/b> el 15 de septiembre de 2026, se\u00f1al\u00f3 que el indicador pas\u00f3 de los 45,2 puntos de julio a 38,3 en agosto. El descenso desplaz\u00f3 al SERF desde la categor\u00eda \u201cSe\u00f1ales Mixtas\u201d y reflej\u00f3 mayores exigencias para las empresas y sus cadenas de valor.<\/p>\n<div class=\"inline ad-wrapper dfpAd ad-inline ad-text ad-component-container\" style=\"--ad-shell-height:250px;--ad-shell-width:300px\" data-ad-wrapper=\"arcad\" data-ad-type=\"inline\" data-ad-slot=\"infobae\/economia\/nota\/inline\" data-ad-container=\"dfp\" data-ad-slot-name=\"infobae\/economia\/nota\/inline\">\n<p class=\"ad-shell-label\">PUBLICIDAD<\/p>\n<div id=\"infobae\/economia\/nota\/inline\" class=\"infobae\/economia\/nota\/inline arcad ad-slot-node ad-slot-node--boxed\" data-ad-slot-id=\"infobae\/economia\/nota\/inline\"><\/div>\n<\/div>\n<h2 class=\"text-align-left vertical-align-top line-height-100 header headline-class-h2 headline\" id=\"el-serf-bajo-a-383-puntos-y-paso-a-riesgo-elevado\">El SERF baj\u00f3 a 38,3 puntos y pas\u00f3 a Riesgo Elevado<\/h2>\n<p class=\"paragraph\" data-paragraph-number=\"3\">El reporte evalu\u00f3 la actividad, el cr\u00e9dito y la morosidad como componentes de un contexto m\u00e1s exigente. <b>F\u00e9lix El Idd<\/b>, CEO de Fidelitas, afirm\u00f3: \u201cEl indicador muestra que la estabilizaci\u00f3n de algunas variables macroecon\u00f3micas todav\u00eda no logra traducirse en una mejora generalizada de las condiciones en las que operan las empresas\u201d.<\/p>\n<div class=\"marfeel-recommender marfeel-recommender-3\"><\/div>\n<p class=\"paragraph\" data-paragraph-number=\"4\">El directivo ubic\u00f3 la principal fragilidad en el cr\u00e9dito. \u201cEl \u00cdndice de Riesgo Crediticio descendi\u00f3 hasta 17,8 puntos, reflejando dificultades de pago que restringen la capacidad del financiamiento para impulsar ventas e inversi\u00f3n\u201d, explic\u00f3. Seg\u00fan la empresa, el endeudamiento a trav\u00e9s de pr\u00e9stamos continu\u00f3 en niveles bajos y la mora se mantuvo elevada, con especial incidencia entre las firmas.<\/p>\n<div class=\"inline_2 ad-wrapper dfpAd ad-inline ad-text ad-component-container\" style=\"--ad-shell-height:250px;--ad-shell-width:300px\" data-ad-wrapper=\"arcad\" data-ad-type=\"inline_2\" data-ad-slot=\"infobae\/economia\/nota\/inline_2\" data-ad-container=\"dfp\" data-ad-slot-name=\"infobae\/economia\/nota\/inline_2\">\n<p class=\"ad-shell-label\">PUBLICIDAD<\/p>\n<div id=\"infobae\/economia\/nota\/inline_2\" class=\"infobae\/economia\/nota\/inline_2 arcad ad-slot-node ad-slot-node--boxed\" data-ad-slot-id=\"infobae\/economia\/nota\/inline_2\"><\/div>\n<\/div>\n<p class=\"paragraph\" data-paragraph-number=\"5\">El documento difundido en septiembre indic\u00f3 que \u201cla estabilizaci\u00f3n de precios todav\u00eda no se traduce en una mejora de la capacidad de pago ni en una recuperaci\u00f3n expansiva de la econom\u00eda\u201d. Tambi\u00e9n plante\u00f3 que el contexto obliga a las compa\u00f1\u00edas a priorizar cobranzas, liquidez y una selecci\u00f3n m\u00e1s cuidadosa del riesgo comercial.<\/p>\n<div class=\"marfeel-recommender marfeel-recommender-5\"><\/div>\n<h2 class=\"text-align-left vertical-align-top line-height-100 header headline-class-h2 headline\" id=\"las-firmas-con-pagos-irregulares-llegaron-a-57.045-en-julio\">Las firmas con pagos irregulares llegaron a 57.045 en julio<\/h2>\n<p class=\"paragraph\" data-paragraph-number=\"6\">La cantidad de <b>empresas en mora<\/b> alcanz\u00f3 las 57.045 en julio de 2026. Esa cifra equivale a casi el 12% de las aproximadamente 480.000 empresas activas y represent\u00f3 una suba interanual de 56,5%, seg\u00fan los datos informados por Fidelitas.<\/p>\n<div class=\"ad_1 ad-wrapper dfpAd ad-1-al-6 ad-text ad-component-container\" style=\"--ad-shell-height:250px;--ad-shell-width:300px\" data-ad-wrapper=\"arcad\" data-ad-type=\"ad_1\" data-ad-slot=\"infobae\/economia\/nota\/ad_1\" data-ad-container=\"dfp\" data-ad-slot-name=\"infobae\/economia\/nota\/ad_1\">\n<p class=\"ad-shell-label\">PUBLICIDAD<\/p>\n<div id=\"infobae\/economia\/nota\/ad_1\" class=\"infobae\/economia\/nota\/ad_1 arcad ad-slot-node ad-slot-node--boxed\" data-ad-slot-id=\"infobae\/economia\/nota\/ad_1\"><\/div>\n<\/div>\n<div class=\"visual__image\"><picture><source srcset=\"https:\/\/www.infobae.com\/resizer\/v2\/K4UYDMABKNHWXADQP5VQWN2P3E.jpg?auth=8a5f9419b6d1f9794de04453eafe7aea23288ffc0165576dcf15d93f01309eb4&amp;smart=true&amp;width=992&amp;height=509&amp;quality=85\" media=\"(min-width: 1000px)\"><\/source><source srcset=\"https:\/\/www.infobae.com\/resizer\/v2\/K4UYDMABKNHWXADQP5VQWN2P3E.jpg?auth=8a5f9419b6d1f9794de04453eafe7aea23288ffc0165576dcf15d93f01309eb4&amp;smart=true&amp;width=768&amp;height=394&amp;quality=85\" media=\"(min-width: 768px)\"><\/source><source srcset=\"https:\/\/www.infobae.com\/resizer\/v2\/K4UYDMABKNHWXADQP5VQWN2P3E.jpg?auth=8a5f9419b6d1f9794de04453eafe7aea23288ffc0165576dcf15d93f01309eb4&amp;smart=true&amp;width=577&amp;height=296&amp;quality=85\" media=\"(min-width: 580px)\"><\/source><source srcset=\"https:\/\/www.infobae.com\/resizer\/v2\/K4UYDMABKNHWXADQP5VQWN2P3E.jpg?auth=8a5f9419b6d1f9794de04453eafe7aea23288ffc0165576dcf15d93f01309eb4&amp;smart=true&amp;width=420&amp;height=215&amp;quality=85\" media=\"(min-width: 350px)\"><\/source><source srcset=\"https:\/\/www.infobae.com\/resizer\/v2\/K4UYDMABKNHWXADQP5VQWN2P3E.jpg?auth=8a5f9419b6d1f9794de04453eafe7aea23288ffc0165576dcf15d93f01309eb4&amp;smart=true&amp;width=350&amp;height=180&amp;quality=85\" media=\"(min-width: 80px)\"><\/source><img alt=\"Tabla con datos de empresas morosas por sector en tres periodos entre 2025 y 2026, atribuida a Fidelitas\" class=\"global-image\" decoding=\"async\" fetchpriority=\"low\" height=\"1472\" loading=\"lazy\" src=\"https:\/\/www.infobae.com\/resizer\/v2\/K4UYDMABKNHWXADQP5VQWN2P3E.jpg?auth=8a5f9419b6d1f9794de04453eafe7aea23288ffc0165576dcf15d93f01309eb4&amp;smart=true&amp;width=350&amp;height=180&amp;quality=85\" width=\"2870\"><\/picture><\/div>\n<p class=\"paragraph\" data-paragraph-number=\"7\">Entre enero y julio, el n\u00famero de organizaciones con situaci\u00f3n irregular aument\u00f3 18,7%. La comparaci\u00f3n sectorial mostr\u00f3 que Servicios concentr\u00f3 25.308 empresas morosas en julio, frente a 22.098 en enero y 13.960 en enero de 2025. Comercio reuni\u00f3 15.718, luego de registrar 12.511 a comienzos de 2026 y 6.541 un a\u00f1o antes.<\/p>\n<p class=\"paragraph\" data-paragraph-number=\"8\">Agropecuaria sum\u00f3 5.273 casos en julio, Manufactura alcanz\u00f3 5.080 y Constructora contabiliz\u00f3 4.759. El sector financiero registr\u00f3 185 organizaciones con pagos irregulares; Industrial, 81; y el grupo \u201cOtra\u201d, 641. Servicios y Comercio concentraron juntos el 71,9% de la morosidad empresarial total.<\/p>\n<div class=\"ad_2 ad-wrapper dfpAd ad-1-al-6 ad-text ad-component-container\" style=\"--ad-shell-height:250px;--ad-shell-width:300px\" data-ad-wrapper=\"arcad\" data-ad-type=\"ad_2\" data-ad-slot=\"infobae\/economia\/nota\/ad_2\" data-ad-container=\"dfp\" data-ad-slot-name=\"infobae\/economia\/nota\/ad_2\">\n<p class=\"ad-shell-label\">PUBLICIDAD<\/p>\n<div id=\"infobae\/economia\/nota\/ad_2\" class=\"infobae\/economia\/nota\/ad_2 arcad ad-slot-node ad-slot-node--boxed\" data-ad-slot-id=\"infobae\/economia\/nota\/ad_2\"><\/div>\n<\/div>\n<p class=\"paragraph\" data-paragraph-number=\"9\">La variaci\u00f3n entre enero y julio fue de 14,5% en Servicios, 25,6% en Comercio, 18,8% en Agropecuaria y 24,4% en Manufactura. Constructora aument\u00f3 13,7%, mientras que Financiero descendi\u00f3 5,1%. Industrial creci\u00f3 3,8% y \u201cOtra\u201d avanz\u00f3 30,8%, la mayor variaci\u00f3n porcentual de la tabla.<\/p>\n<p class=\"paragraph\" data-paragraph-number=\"10\">En la comparaci\u00f3n interanual por actividad, el informe se\u00f1al\u00f3 incrementos de 78% en Comercio, de 76,3% en Manufactura y de 65,6% en Agropecuario. El documento vincul\u00f3 la evoluci\u00f3n del cr\u00e9dito con el crecimiento de la morosidad.<\/p>\n<div class=\"ad_3 ad-wrapper dfpAd ad-1-al-6 ad-text ad-component-container\" style=\"--ad-shell-height:250px;--ad-shell-width:300px\" data-ad-wrapper=\"arcad\" data-ad-type=\"ad_3\" data-ad-slot=\"infobae\/economia\/nota\/ad_3\" data-ad-container=\"dfp\" data-ad-slot-name=\"infobae\/economia\/nota\/ad_3\">\n<p class=\"ad-shell-label\">PUBLICIDAD<\/p>\n<div id=\"infobae\/economia\/nota\/ad_3\" class=\"infobae\/economia\/nota\/ad_3 arcad ad-slot-node ad-slot-node--boxed\" data-ad-slot-id=\"infobae\/economia\/nota\/ad_3\"><\/div>\n<\/div>\n<h2 class=\"text-align-left vertical-align-top line-height-100 header headline-class-h2 headline\" id=\"la-industria-cayo-49percent-interanual-durante-julio\">La industria cay\u00f3 4,9% interanual durante julio<\/h2>\n<p class=\"paragraph\" data-paragraph-number=\"11\">La actividad manufacturera figur\u00f3 entre los factores que incidieron sobre el indicador. La <b>producci\u00f3n industrial<\/b> descendi\u00f3 4,9% interanual en julio y acumul\u00f3 una contracci\u00f3n de 2,6% entre enero y julio de 2026. En la medici\u00f3n desestacionalizada, retrocedi\u00f3 5% respecto de junio.<\/p>\n<p class=\"paragraph\" data-paragraph-number=\"12\">Doce de las 16 divisiones manufactureras anotaron bajas interanuales. Los descensos se concentraron en bienes durables y de capital. Maquinaria y equipo cay\u00f3 26,7%, con una retracci\u00f3n de 46,6% en maquinaria agropecuaria, que incluye tractores, cosechadoras y pulverizadoras. Los aparatos de uso dom\u00e9stico bajaron 20,9%.<\/p>\n<div class=\"ad_4 ad-wrapper dfpAd ad-1-al-6 ad-text ad-component-container\" style=\"--ad-shell-height:250px;--ad-shell-width:300px\" data-ad-wrapper=\"arcad\" data-ad-type=\"ad_4\" data-ad-slot=\"infobae\/economia\/nota\/ad_4\" data-ad-container=\"dfp\" data-ad-slot-name=\"infobae\/economia\/nota\/ad_4\">\n<p class=\"ad-shell-label\">PUBLICIDAD<\/p>\n<div id=\"infobae\/economia\/nota\/ad_4\" class=\"infobae\/economia\/nota\/ad_4 arcad ad-slot-node ad-slot-node--boxed\" data-ad-slot-id=\"infobae\/economia\/nota\/ad_4\"><\/div>\n<\/div>\n<p class=\"paragraph\" data-paragraph-number=\"13\">Otros equipos, aparatos e instrumentos retrocedieron 31,4%. Dentro de ese rubro, la electr\u00f3nica de consumo se contrajo 49,8% y los equipos el\u00e9ctricos disminuyeron 25%. Prendas de vestir, cuero y calzado bajaron 15,9%, mientras que el calzado cay\u00f3 26,5%.<\/p>\n<div class=\"visual__image\"><picture><source srcset=\"https:\/\/www.infobae.com\/resizer\/v2\/BELQH77VPFB3HL77I4AUW7JUAE.jpg?auth=f0aecebd6ea3f2525e70ce9b3cefdc2bfdddedd0de13ea1e7102e7817e0b2bb8&amp;smart=true&amp;width=992&amp;height=649&amp;quality=85\" media=\"(min-width: 1000px)\"><\/source><source srcset=\"https:\/\/www.infobae.com\/resizer\/v2\/BELQH77VPFB3HL77I4AUW7JUAE.jpg?auth=f0aecebd6ea3f2525e70ce9b3cefdc2bfdddedd0de13ea1e7102e7817e0b2bb8&amp;smart=true&amp;width=768&amp;height=502&amp;quality=85\" media=\"(min-width: 768px)\"><\/source><source srcset=\"https:\/\/www.infobae.com\/resizer\/v2\/BELQH77VPFB3HL77I4AUW7JUAE.jpg?auth=f0aecebd6ea3f2525e70ce9b3cefdc2bfdddedd0de13ea1e7102e7817e0b2bb8&amp;smart=true&amp;width=577&amp;height=377&amp;quality=85\" media=\"(min-width: 580px)\"><\/source><source srcset=\"https:\/\/www.infobae.com\/resizer\/v2\/BELQH77VPFB3HL77I4AUW7JUAE.jpg?auth=f0aecebd6ea3f2525e70ce9b3cefdc2bfdddedd0de13ea1e7102e7817e0b2bb8&amp;smart=true&amp;width=420&amp;height=275&amp;quality=85\" media=\"(min-width: 350px)\"><\/source><source srcset=\"https:\/\/www.infobae.com\/resizer\/v2\/BELQH77VPFB3HL77I4AUW7JUAE.jpg?auth=f0aecebd6ea3f2525e70ce9b3cefdc2bfdddedd0de13ea1e7102e7817e0b2bb8&amp;smart=true&amp;width=350&amp;height=229&amp;quality=85\" media=\"(min-width: 80px)\"><\/source><img alt=\"Un hombre con gafas sostiene un documento impreso frente a una computadora port\u00e1til, un cuaderno y varios gr\u00e1ficos sobre una mesa\" class=\"global-image\" decoding=\"async\" fetchpriority=\"low\" height=\"5168\" loading=\"lazy\" src=\"https:\/\/www.infobae.com\/resizer\/v2\/BELQH77VPFB3HL77I4AUW7JUAE.jpg?auth=f0aecebd6ea3f2525e70ce9b3cefdc2bfdddedd0de13ea1e7102e7817e0b2bb8&amp;smart=true&amp;width=350&amp;height=229&amp;quality=85\" width=\"7900\"><\/picture><\/div>\n<p class=\"paragraph\" data-paragraph-number=\"14\">Cuatro divisiones mostraron crecimiento en la comparaci\u00f3n interanual: refinaci\u00f3n de petr\u00f3leo avanz\u00f3 8,1%; madera y papel, 7,1%; met\u00e1licas b\u00e1sicas, 1,6%; y otro equipo de transporte, 2,6%. Este \u00faltimo resultado tuvo impulso de las motocicletas.<\/p>\n<div class=\"ad_5 ad-wrapper dfpAd ad-1-al-6 ad-text ad-component-container\" style=\"--ad-shell-height:250px;--ad-shell-width:300px\" data-ad-wrapper=\"arcad\" data-ad-type=\"ad_5\" data-ad-slot=\"infobae\/economia\/nota\/ad_5\" data-ad-container=\"dfp\" data-ad-slot-name=\"infobae\/economia\/nota\/ad_5\">\n<p class=\"ad-shell-label\">PUBLICIDAD<\/p>\n<div id=\"infobae\/economia\/nota\/ad_5\" class=\"infobae\/economia\/nota\/ad_5 arcad ad-slot-node ad-slot-node--boxed\" data-ad-slot-id=\"infobae\/economia\/nota\/ad_5\"><\/div>\n<\/div>\n<p class=\"paragraph\" data-paragraph-number=\"15\">El <b>\u00cdndice de Actividad del SERF<\/b> qued\u00f3 en 54,2 puntos. El avance interanual de 2,7% del Estimador Mensual de Actividad Econ\u00f3mica (EMAE) de junio aport\u00f3 al indicador, aunque su tendencia-ciclo permaneci\u00f3 pr\u00e1cticamente estable. Los datos preliminares del mes posterior tampoco permitieron anticipar una mejora relevante, seg\u00fan el reporte.<\/p>\n<h2 class=\"text-align-left vertical-align-top line-height-100 header headline-class-h2 headline\" id=\"los-cheques-rechazados-rondaron-los-80.000-por-mes\">Los cheques rechazados rondaron los 80.000 por mes<\/h2>\n<p class=\"paragraph\" data-paragraph-number=\"16\">La empresa tambi\u00e9n inform\u00f3 un nivel persistente de <b>cheques rechazados<\/b>, cercano a 80.000 mensuales. Durante los primeros ocho meses de 2026, el volumen acumulado de rechazos alcanz\u00f3 una cantidad equivalente a la anotada durante los doce meses de 2025.<\/p>\n<div class=\"ad_6 ad-wrapper dfpAd ad-1-al-6 ad-text ad-component-container\" style=\"--ad-shell-height:250px;--ad-shell-width:300px\" data-ad-wrapper=\"arcad\" data-ad-type=\"ad_6\" data-ad-slot=\"infobae\/economia\/nota\/ad_6\" data-ad-container=\"dfp\" data-ad-slot-name=\"infobae\/economia\/nota\/ad_6\">\n<p class=\"ad-shell-label\">PUBLICIDAD<\/p>\n<div id=\"infobae\/economia\/nota\/ad_6\" class=\"infobae\/economia\/nota\/ad_6 arcad ad-slot-node ad-slot-node--boxed\" data-ad-slot-id=\"infobae\/economia\/nota\/ad_6\"><\/div>\n<\/div>\n<p class=\"paragraph\" data-paragraph-number=\"17\">Fidelitas describi\u00f3 el efecto de esa combinaci\u00f3n sobre la cadena de pagos: \u201cUna empresa que demora sus obligaciones puede trasladar la presi\u00f3n a proveedores que hasta ese momento operaban normalmente, multiplicando el riesgo cuando varias contrapartes pertenecen al mismo sector o dependen de un mismo ciclo de demanda\u201d.<\/p>\n<p class=\"paragraph\" data-paragraph-number=\"18\">La compa\u00f1\u00eda agreg\u00f3 que la elecci\u00f3n de proveedores debe contemplar distintas variables. \u201cHoy en d\u00eda, la elecci\u00f3n de un proveedor no solo debe incluir aspectos de calidad en el producto o servicio, equipo de profesionales o tecnolog\u00eda implementada, sino tambi\u00e9n solidez financiera para no estar incorporando un problema a futuro en la cadena de producci\u00f3n de quien hace la contrataci\u00f3n\u201d, explicaron desde la firma.<\/p>\n<div class=\"visual__image\"><picture><source srcset=\"https:\/\/www.infobae.com\/resizer\/v2\/RN3PDBMV7FCOBDW2QBYKYGAM24.png?auth=39ca18a358b473b3f2a22c64a4adfc5e85e2e8e2ddb5bdbb81ed1803101245a1&amp;smart=true&amp;width=992&amp;height=541&amp;quality=85\" media=\"(min-width: 1000px)\"><\/source><source srcset=\"https:\/\/www.infobae.com\/resizer\/v2\/RN3PDBMV7FCOBDW2QBYKYGAM24.png?auth=39ca18a358b473b3f2a22c64a4adfc5e85e2e8e2ddb5bdbb81ed1803101245a1&amp;smart=true&amp;width=768&amp;height=419&amp;quality=85\" media=\"(min-width: 768px)\"><\/source><source srcset=\"https:\/\/www.infobae.com\/resizer\/v2\/RN3PDBMV7FCOBDW2QBYKYGAM24.png?auth=39ca18a358b473b3f2a22c64a4adfc5e85e2e8e2ddb5bdbb81ed1803101245a1&amp;smart=true&amp;width=577&amp;height=315&amp;quality=85\" media=\"(min-width: 580px)\"><\/source><source srcset=\"https:\/\/www.infobae.com\/resizer\/v2\/RN3PDBMV7FCOBDW2QBYKYGAM24.png?auth=39ca18a358b473b3f2a22c64a4adfc5e85e2e8e2ddb5bdbb81ed1803101245a1&amp;smart=true&amp;width=420&amp;height=229&amp;quality=85\" media=\"(min-width: 350px)\"><\/source><source srcset=\"https:\/\/www.infobae.com\/resizer\/v2\/RN3PDBMV7FCOBDW2QBYKYGAM24.png?auth=39ca18a358b473b3f2a22c64a4adfc5e85e2e8e2ddb5bdbb81ed1803101245a1&amp;smart=true&amp;width=350&amp;height=191&amp;quality=85\" media=\"(min-width: 80px)\"><\/source><img alt=\"(Imagen Ilustrativa Infobae)\" class=\"global-image\" decoding=\"async\" fetchpriority=\"low\" height=\"768\" loading=\"lazy\" src=\"https:\/\/www.infobae.com\/resizer\/v2\/RN3PDBMV7FCOBDW2QBYKYGAM24.png?auth=39ca18a358b473b3f2a22c64a4adfc5e85e2e8e2ddb5bdbb81ed1803101245a1&amp;smart=true&amp;width=350&amp;height=191&amp;quality=85\" width=\"1408\"><\/picture><\/div>\n<h2 class=\"text-align-left vertical-align-top line-height-100 header headline-class-h2 headline\" id=\"la-diferencia-entre-tasas-de-prestamos-y-depositos-llego-a-6546-puntos\">La diferencia entre tasas de pr\u00e9stamos y dep\u00f3sitos lleg\u00f3 a 65,46 puntos<\/h2>\n<p class=\"paragraph\" data-paragraph-number=\"19\">El costo del financiamiento integr\u00f3 otro de los factores relevados. En agosto, la distancia entre la tasa efectiva anual con capitalizaci\u00f3n mensual de los pr\u00e9stamos personales, de 88,86%, y la de los dep\u00f3sitos, de 23,40%, fue de aproximadamente <b>65,46 puntos porcentuales<\/b>.<\/p>\n<p class=\"paragraph\" data-paragraph-number=\"20\">El informe indic\u00f3 que la presi\u00f3n se concentra en el capital de trabajo. \u201cCuando una compa\u00f1\u00eda cobra m\u00e1s tarde debe financiar durante m\u00e1s tiempo mercader\u00eda, salarios e impuestos. Si los m\u00e1rgenes comerciales no compensan ese costo, un aumento de las ventas puede incluso deteriorar la posici\u00f3n de caja\u201d, se\u00f1al\u00f3.<\/p>\n<p class=\"paragraph\" data-paragraph-number=\"21\">Tambi\u00e9n sostuvo que \u201cel crecimiento de la facturaci\u00f3n pierde valor cuando queda inmovilizado en cuentas por cobrar o en sobrestocks\u201d. A esa situaci\u00f3n sum\u00f3 la evoluci\u00f3n de los costos empresariales medidos en d\u00f3lares, que comprime m\u00e1rgenes y deteriora la competitividad cuando no existe una mejora equivalente de productividad.<\/p>\n<p class=\"paragraph\" data-paragraph-number=\"22\">La baja de la inflaci\u00f3n a 1,7% en agosto y el desempe\u00f1o del comercio exterior fueron consignados como se\u00f1ales favorables, aunque el documento indic\u00f3 que no compensaron la debilidad del mercado interno y el deterioro crediticio. Adem\u00e1s, Fidelitas detect\u00f3 en sus bases de datos m\u00e1s empresas con deudas previsionales impagas y un mayor n\u00famero de sanciones de la Unidad de Informaci\u00f3n Financiera (UIF) y el Banco Central de la Rep\u00fablica Argentina (BCRA).<\/p>\n<p class=\"paragraph\" data-paragraph-number=\"23\">\u201cEn definitiva, el desaf\u00edo empresario ya no pasa solamente por vender, sino por vender cobrando, preservar liquidez y administrar cuidadosamente el riesgo de cada operaci\u00f3n\u201d, concluyeron desde Fidelitas.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EscucharPuntos claveResumen 15 Sep, 2026 11:15 a. m. EST Guardar El Sistema de Evaluaci\u00f3n de Riesgo Financiero (SERF) de Fidelitas marc\u00f3 38,3 puntos en agosto, tras una baja mensual de 6,9 puntos, y ubic\u00f3 el escenario empresario dentro de la categor\u00eda de \u201cRiesgo Elevado\u201d. El dato coincidi\u00f3 con un alza de la cantidad de firmas [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":26506,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-26505","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/cliente1.publisher.highstack.com.ar\/index.php?rest_route=\/wp\/v2\/posts\/26505","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cliente1.publisher.highstack.com.ar\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cliente1.publisher.highstack.com.ar\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cliente1.publisher.highstack.com.ar\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cliente1.publisher.highstack.com.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26505"}],"version-history":[{"count":0,"href":"https:\/\/cliente1.publisher.highstack.com.ar\/index.php?rest_route=\/wp\/v2\/posts\/26505\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cliente1.publisher.highstack.com.ar\/index.php?rest_route=\/wp\/v2\/media\/26506"}],"wp:attachment":[{"href":"https:\/\/cliente1.publisher.highstack.com.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cliente1.publisher.highstack.com.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cliente1.publisher.highstack.com.ar\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}