Macro Analysis /

Argentina: Economic activity grows 0.8% m/m and 11.7% y/y in July, beating expectations

    29 September 2021
    • Economy expands well above 8.5% y/y consensus forecast
    • Growth of 0.8% m/m takes activity series to new post-pandemic high
    • But activity remains 2.4% below pre-pandemic level of July 2019
    • Manufacturing, utilities, and commerce activity sit above pre-pandemic levels
    • Agriculture, construction, and most services remain below
    • Improving sanitary conditions will help services and construction moving forward, manufacturing will suffer import controls