Argentina: Economic activity decreases at softer pace in May
July 22, 2020
Economic activity dropped 20.6% year-on-year in May (April: -26.3% yoy). In terms of specific sector, the contraction in activity was broad-based. That said, activity collapsed in the construction and hotels and restaurants sectors and plummeted in the manufacturing sector
On a monthly basis, economic activity grew 10.0% in May, rebounding from April’s 17.9% fall and marked the best result. Meanwhile, the trend pointed down, with the annual average variation of economic activity coming in at minus 6.0%, down from April's minus 4.1% reading.