Argentina Economic Activity Returns to Expansion

2026-02-24 19:38 By Felipe Alarcon 1 min. read

Argentina’s economic activity increased 3.5% year-on-year in December 2025, up from a 0.1% decline in November and marking a return to expansion.

Growth was primarily driven by a significant strengthening in agriculture (32.2% vs 11.5%) alongside accelerated gains in mining (9.1% vs 7.3%) and utilities (10.7% vs 1.8%).

Financial intermediation (14.1% vs 13.8%), real estate and business services (1.6% vs 0.5%), and transport and communications (1.8% vs 1.9%) also remained positive contributors.

Furthermore, the construction (0.3% vs -2.5%) and education (0.3% vs 0.5%) sectors added to the expansion.

Conversely, the recovery was limited by continued contractions in manufacturing (-3.9% vs -8.0%), trade (-1.3% vs -6.0%), and the public sector (-1.1% vs -1.1%), albeit at a softer rate.

Additionally, hotels and restaurants moved into negative territory (-1.5% vs 0.8%).

On a monthly, seasonally-adjusted basis, activity rose (1.8%), while the trend-cycle increased (0.3%).



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Argentina Economic Activity Returns to Expansion
Argentina’s economic activity increased 3.5% year-on-year in December 2025, up from a 0.1% decline in November and marking a return to expansion. Growth was primarily driven by a significant strengthening in agriculture (32.2% vs 11.5%) alongside accelerated gains in mining (9.1% vs 7.3%) and utilities (10.7% vs 1.8%). Financial intermediation (14.1% vs 13.8%), real estate and business services (1.6% vs 0.5%), and transport and communications (1.8% vs 1.9%) also remained positive contributors. Furthermore, the construction (0.3% vs -2.5%) and education (0.3% vs 0.5%) sectors added to the expansion. Conversely, the recovery was limited by continued contractions in manufacturing (-3.9% vs -8.0%), trade (-1.3% vs -6.0%), and the public sector (-1.1% vs -1.1%), albeit at a softer rate. Additionally, hotels and restaurants moved into negative territory (-1.5% vs 0.8%). On a monthly, seasonally-adjusted basis, activity rose (1.8%), while the trend-cycle increased (0.3%).
2026-02-24
Argentina Economic Activity Contracts in November
Argentina’s economic activity declined 0.3% year-on-year in November 2025, down from a 3.2% increase in October and marking the first contraction since September 2024. The slowdown reflected weaker performance across several sectors, including manufacturing (-8.2% vs -2.7%), construction (-2.3% vs 5.3%), trade (-6.4% vs 0.6%), real estate and business services (0.4% vs 3.8%) and education (0.7% vs 0.9%). By contrast, agriculture strengthened (10.5% vs 3.1%), hotels and restaurants moved into modest positive territory (0.3% vs -0.4%), transport and communications moderated (1.8% vs 2.5%) and financial intermediation remained a positive contributor albeit smaller (13.9% vs 23.1%). Utilities posted a smaller gain (1.6% vs 2.1%) and the public sector’s small contraction persisted (-0.6% vs -0.8%). Mining stayed in expansion but slowed (7.0% vs 8.1%). On a monthly, seasonally-adjusted basis, activity fell (-0.3%), while the trend-cycle was unchanged (0.0%).
2026-01-21
Argentina Activity Growth Slows in October
Argentina’s economic activity expanded 3.2% year-on-year in October 2025, slowing from 4.8% in September and coming just below expectations of 3.3%. Twelve sectors posted gains, led by fishing (91.4%) and financial intermediation (22.8%), supported by stronger activity among brokers and securities firms. In contrast, manufacturing fell 2.7%, alongside declines in public administration and defense including social security (0.8%) and hotels and restaurants (1.0%). On a seasonally adjusted basis, activity contracted 0.4% month-on-month.
2025-12-22