Argentina: Economic activity growth moderates in May
July 22, 2021
The monthly indicator for economic activity (EMAE) expanded 13.6% year-on-year in May (April: +29.4% yoy). May's reading was again flattered by a low base effect. Softer growth rates in the manufacturing, construction and trade sectors was mainly behind May’s reading.
On a monthly basis, economic activity dropped 2.0% in May, which was below April’s 0.3% fall and marked the worst result since April 2020. Meanwhile, the trend improved, with the annual average variation of economic activity coming in at minus 0.3%, up from April's minus 3.1% reading.