BUENOS AIRES, Sept 24 (Reuters) – Argentina’s economic activity fell 1.4% in July compared with the same month a year earlier, data from the country’s official national statistics agency showed on Thursday.
The decrease for Latin America’s third-largest economy was below the 1.8% growth projected by analysts polled by Reuters and slumped from the 2.7% rise recorded in June.
Of the 15 sectors tracked by the EMAE, eight different sectors recorded year-on-year declines, led by wholesale, retail trade and repairs, which fell 5.1% compared to the same period last year, and manufacturing, which saw a 4.6% year-on-year drop.
The remaining seven sectors posted gains in July, according to the government statistics agency INDEC, led by the fishing sector, which saw a 425.5% year-on-year jump, and mining and quarrying, which rose 8.4%.
Javier Milei’s government, which faces a presidential election in 2027, has sharply cut public spending to curb inflation, while seeking to revive growth in the industrial, consumer and construction sectors.
(Reporting by Hernán Nessi and Paolo Laudani, Editing by Iñigo Alexander and Natalia Siniawski)
