Argentina: Economic activity growth slows in July
The monthly indicator for economic activity (EMAE) rose 5.6% year on year in July (June: +6.9% yoy). July’s slowdown largely reflected softer growth in the construction, manufacturing and trade sectors. Moreover, the utilities and fishing sectors swung from expansion to contraction.
On a monthly basis, economic activity flatlined in July (June: +1.2% mom). Meanwhile, annual average economic activity growth fell to 7.9% in July (June: +8.4%), pointing to a worsening trend.