Argentina: Economic activity growth deteriorates in June
The monthly indicator for economic activity (EMAE) rose 6.4% year on year in June (May: +7.6% yoy). June’s downturn largely reflected easing activity in the manufacturing and construction sectors. However, agriculture sectors decreased at a more moderate rate. Lastly, activity in the hotels and restaurants sector moderated, while transport and communications production moderated.
On a monthly basis, economic activity rose at a quicker rate of 1.1% in June (May: +0.1% mom). Meanwhile, annual average economic activity growth fell to 8.3% in June (May: +8.8%), pointing to a worsening trend.