Argentina’s economic activity fell 1.4% year over year in July, INDEC reported, below Reuters-polled analysts’ 1.8% growth forecast after a 2.7% rise in June. Eight of 15 sectors contracted, led by wholesale and retail trade and repairs (-5.1%) and manufacturing (-4.6%).
The other seven tracked sectors grew. Fishing recorded the largest increase, up 425.5% year over year, while mining and quarrying rose 8.4%.
President Javier Milei’s government has sharply cut public spending to curb inflation while seeking to revive growth in industry, consumer activity and construction. Argentina faces a presidential election in 2027.
