Argentina: Economic activity loses momentum in May
Latest reading: Economic activity rose 0.2% in annual terms in May, following a 1.7% rise in the previous month.
Relative to the previous month’s figures, readings in May worsened for agriculture (+4.6% on a year-on-year basis vs +10.9% in April), manufacturing (-5.6% vs -2.7% in April), transport and communications (+0.6% vs +2.1% in April) and hotels and restaurants (-1.8% vs 0.0% in April). In contrast, the reading for construction improved in May (+1.9% vs -1.8% in April).
On a month-on-month basis, economic activity was down 0.5% in May, following a 1.5% drop in the previous month.