Economic activity in Argentina dropped 0.7% month-on-month in June

Economic activity in June fell 0.7 percent from the previous month, a second consecutive decline, said the INDEC national statistics bureau.

By contrast, activity surged 6.4 percent year-on-year, reported the statistics agency.

Compared with June 2024, 12 of the sectors included in INDEC’s monthly economic activity estimator (EMAE) posted gains, with financial intermediation (28.7 percent) and wholesale, retail and repair trade (11.5 percent) standing out in particular

Three sectors recorded year-on-year declines: fishing (down 74.6 percent); public administration, defence and compulsory social security schemes (down 0.7 percent); and other community, social and personal service activities (down 0.7 percent YoY).

Reacting to the figures, the Centro de Estudios Políticos y Económicos (CEPEC) think tank noted that “EMAE for June shows solid year-on-year progress, although the monthly contraction signals some fragility in the short-term dynamic.”

“The commerce and industry sectors are sustaining the rebound, but the sharp fall in fishing and the slowdown in public administration reveal imbalances within the economy,” the consultancy firm added.

– TIMES/PERFIL