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Argentina Economic Activity June 2023

Argentina: Economic activity decreases at softer pace in June

The monthly indicator for economic activity (EMAE) slid 4.4% year on year in June (May: -5.5% yoy). June’s softer drop was partly due to a softer fall in the agriculture sector, although it still continued to contract at a pronounced rate. Lastly, activity in the hotels and restaurants sector lost pace, while transport and communications output contracted at a steeper pace than in the prior month.

On a monthly basis, economic activity dropped 0.2% in June, easing from May’s 0.6% fall. Meanwhile, annual average economic activity growth fell to 1.0% in June (May: +1.9%), which marked an over two-year low.

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