In June, Argentinas economic activity saw a slight decrease of 0.2% compared to the previous month, as reported by official sources.This information, provided by the National Institute of Statistics and Census (Indec), aligns with the contracting trend observed in the countrys economy since March.Furthermore, economic activity in June declined by 4.4% compared to the same month in 2022, marking the third consecutive month of decline.Out of the 16 sectors analyzed by Indec, ten showed year-on-year improvement in June.
Notably, the hospitality and mining sectors grew by 8.8% and 7.9%, respectively.Photo Internet reproduction.However, the agriculture and livestock sector negatively influenced Junes index.This sector, heavily impacted by drought and significantly affecting Argentinas overall economic activity, plunged by 40.4% year-on-year.The manufacturing industry also experienced a decline, dropping by 3.6% year-on-year.Argentinas economic activity decreased by 1.9% for the first half of the year.In contrast, the countrys GDP had grown by 5.2% the previous year, considerably lower than the impressive 10.4% growth in 2021.