Argentina Economic Activity June 2018


Argentina: Economic activity plummets further in June

August 23, 2018

The monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Económica) contracted 6.7% in annual terms in June, deteriorating from the 5.2% contraction recorded in May (previously reported: -5.8% year-on-year) and marking the worst performance in nine years.

June’s contraction came on the back of significant annual declines in agricultural and industrial output, as well as severely restricted trade activity. Construction activity, meanwhile, appeared to stall in June following a string of upbeat readings.

A month-on-month comparison showed that economic activity contracted a seasonally-adjusted 1.3% in June following May’s 1.2% drop.

Finally, average economic activity decreased to 1.8% in June from 2.8% in May.

Argentina GDP Forecast

FocusEconomics Consensus Forecast panelists expect economic growth of 0.4% in 2018, which is unchanged from last month’s forecast. For 2019, panelists see the economy expanding 1.9%.


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Argentina Economic Activity Chart

Argentina Economic Activity June 2018

Note: Year-on-year changes and annual average growth rate of monthly economic activity in %.
Source: Argentina National Statistical Institute (INDEC) and FocusEconomics calculations.

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