Argentine - Indice d'activité économique

Argentina's economic activity shrank 2.1 percent year-on-year in September 2019, after a downwardly revised 3.6 percent contraction in August. Output declined less in manufacturing (-5 percent vs -6.6 percent in August); wholesale & retail trade (-5.2 percent vs -9.2 percent); financial intermediation (-14.6 percent vs -15.9 percent) and other services (-1.9 percent vs -3.3 percent). Also, output rebounded in transportation & communication (0.2 percent vs -1.3 percent); real estate (1.5 percent vs -0.5 percent) and utilities (0.1 percent vs -4 percent). Additionally, output grew further in agriculture (11.8 percent vs 8.1 percent); public services (0.8 percent vs 0.6 percent) and education (0.9 percent vs 0.8 percent). In contrast, production fell at a faster pace for construction (-6.5 percent vs -5.1 percent); fishing (-44.2 percent vs -1.1 percent) and accommodation services (-1.1 percent vs -0.6 percent). On a seasonally adjusted monthly basis, economic activity shrank 1.6 percent.

Argentina's economic activity contracted 3.8 percent year-on-year in August 2019, as the pre-electoral climate took a toll following a downwardly revised 0.5 percent expansion in the previous month. Output shrank in transportation & communication (-1.5 percent vs 0.1 percent in July); real estate (-0.5 percent vs 0.7 percent); and hotels & restaurants (-2.1 percent vs a flat reading). Also, output declined further in financial intermediation (-16.4 percent vs -13.9 percent); wholesale & retail trade (-8.8 percent vs -1.3 percent); manufacturing (-6.6 percent vs -2 percent); construction (-4.6 percent vs -2.2 percent); and utilities (-3 percent vs -2.1 percent). In addition, growth slowed in agriculture, livestock, hunting & forestry (6.5 percent vs 20.6 percent); education (0.6 percent vs 1.1 percent); and social services & health (0.2 percent vs 0.3 percent). On a monthly basis, economic activity shrank 1 percent after expanding 1.3 percent in July.

Argentina's economic activity grew 0.6 percent in July 2019, following an upwardly revised 0.4 percent expansion in the previous month and beating market expectations of a 1.8 percent contraction. Growth was mainly driven by mining & quarrying (2.7 percent vs 1.2 percent in June); hotels & restaurants (1.9 percent vs -1.1 percent); real estate (0.6 percent vs -2.3 percent); public administration (0.3 percent vs a flat reading); education (1 percent vs 0.6 percent) and health & social services (0.3 percent vs 0.1 percent). Additionally, output shrank at a softer pace in manufacturing (-2 percent vs -5.4 percent); construction (-2.2 percent vs -8.2 percent); utilities (-2.1 percent vs -11.4 percent); wholesale & retail trade (-1.3 percent vs -7.3 percent); and financial intermediation (-13.9 percent vs -14.1 percent). On a monthly basis, economic activity expanded 1.2 percent, rebounding from a 0.4 percent contraction in the prior month.

Argentina's economic activity was unchanged in June 2019, following a revised 2.4 percent expansion in the previous month and missing market expectations of 0.1 percent growth. A sharp decline in wholesale & retail trade (-8.6 percent vs -11.4 percent in May), manufacturing (-6.1 percent vs -6.5 percent), financial intermediation (-15.1 percent vs -15.9 percent) and construction (-7.9 percent vs -3.4 percent) was offset by increases in agriculture (43.7 percent vs 47.6 percent), and transport & communication (1.7 percent vs 1.9 percent). Considering the first six months of the year, economic activity fell 2.6 percent.