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