Argentina Economic Activity Growth Slows

Argentina’s economic activity fell 1.4% year-over-year in July 2026, following an upwardly revised 3.1% increase in June and marking the first annual contraction since February. The decline was led by wholesale and retail trade and repairs, which fell 5.1%, while manufacturing dropped 4.6%, together subtracting 1.3 percentage points from overall activity. Construction declined 3.3%, while administration and defense and transport and communications both fell 1.5%. In contrast, seven of the 15 sectors surveyed recorded growth, led by fishing, which surged 424.5%, followed by mining and quarrying at 8.4%. Hotels and restaurants rose 2.5%, electricity, gas and water increased 1.9%, while agriculture, livestock, hunting and forestry gained 0.7%. On a monthly basis, the EMAE dropped 2.9% in seasonally adjusted terms, although the trend-cycle component increased 0.2%.

Argentina’s economic activity rose 2.7% year-over-year in June 2026, following an upwardly revised 0.4% increase in May. Twelve of the 15 sectors surveyed recorded annual growth, led by fishing (247.6%) and mining and quarrying (15.6%). Agriculture, livestock, hunting and forestry also increased 4.6%. In contrast, administration and defense and compulsory social security plans declined 1.5%, while utilities fell 0.4% and education decreased 0.1%. On a monthly basis, the Monthly Economic Activity Estimate rose 0.8%.

Argentina's economic activity rose 0.2% year-on-year in May 2026, following an upwardly revised 1.7% increase in April. Eight of the fifteen sectors surveyed posted annual growth. The strongest performances came from mining and quarrying, which expanded 15.7%, followed by utilities (8.0%). Agriculture, livestock, hunting, and forestry also increased 4.6% from a year earlier. Meanwhile, seven sectors contracted. The sharpest decline was recorded in fishing, down 29.3%, followed by manufacturing (-5.6%) and wholesale and retail trade and repair services (-4.3%). On a monthly basis, the Monthly Economic Activity Estimate fell 0.5% from April.