Argentina Economic Activity January 2021

Argentina

Argentina: Pace of decline in economic activity stable at year outset

February 25, 2021

On an annual basis, economic activity fell 2.0% in January (December: -2.0% yoy). Declines in the transportation, mining and hotel and restaurants sectors more than offset expansions in manufacturing activity as well as in the fishing and construction sectors.

On a monthly basis, economic activity grew 1.9% in January, a stronger increase than December’s 0.7% uptick. Meanwhile, the trend was stable, with the annual average variation of economic activity coming in at minus 9.6%, matching December’s reading.

FocusEconomics analysts see the economy growing 4.5% in 2021, unchanged from the previous month’s forecast. In 2022, analysts see GDP expanding 2.6%.


Author: Massimo Bassetti, Senior Economist

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Argentina Economic Activity January 2021

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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