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Argentina Economic Activity May 2021

Argentina: Economic activity growth moderates in May

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.

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