Argentina Economic Activity June 2019

Argentina

Argentina: Economic activity stagnates in June

August 22, 2019

The monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Económica) recorded flat growth year-on-year in June, after logging a 2.4% increase in May, which had marked the best result in over a year and exceeded market expectations.

June’s marked slowdown was largely driven by sharper contractions in the rental, real estate and business activities sector, as well as in the electricity, gas and water, and construction sectors compared to May.

A month-on-month comparison showed that economic activity declined 0.4% in seasonally-adjusted terms in June, following May’s 0.1% dip. Meanwhile, the annual average variation in economic activity improved from a 4.3% contraction in May to a 3.8% fall in June.

LatinFocus Consensus Forecast analysts see the economy contracting 1.3% in 2019, which is down 0.2 percentage points from last month’s estimate, before expanding 2.2% in 2020.


Author:, Economist

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Argentina Economic Activity June 2019

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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