Argentina: Decline in economic activity softens in August
October 23, 2020
On an annual basis, economic activity fell at a softer pace of 11.6% in August (July: -13.1% yoy). The contraction was broad-based, with the hotels and restaurants, transport and communication and construction subsectors being the hardest hit in August.
On a monthly basis, economic activity grew 1.9% in August, a stronger increase than July’s 1.2% uptick. Meanwhile, the trend deteriorated further, with the annual average variation of economic activity coming in at minus 8.5%, down from July’s minus 7.9% reading.