Argentina Economic Activity October 2020

Argentina

Argentina: Decline in economic activity sharpens in October

January 4, 2021

On an annual basis, economic activity fell at a faster pace of 7.4% in October (September: -6.3% yoy). Downturns in fishing and in manufacturing activity were behind the deteriorated reading.

On a monthly basis, economic activity grew 1.9% in October, a somewhat softer increase than September’s 2.1% uptick. Meanwhile, the trend deteriorated further, with the annual average variation of economic activity coming in at minus 9.3%, down from September’s minus 8.8% reading.

FocusEconomics analysts see the economy growing 4.5% in 2021, unchanged from the previous month’s forecast. In 2022, analysts see GDP expanding 2.6%.


Author: Massimo Bassetti, Senior Economist

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Argentina Economic Activity October 20 20

Note: Year-on-year changes and annual average growth rate of monthly economic activity in %.
Source: Argentina National Statistical Institute (INDEC) and FocusEconomics calculations.


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