Economic activity in Argentina fell in September, contracting 0.3 percent from August and ending a streak of five consecutive months of growth.
The data, taken from the INDEC national statistics bureau’s Monthly Estimator of Economic Activity (EMAE), does however, show an increase of 4.8 percent in the year-on-year comparison.
Argentina’s economy grew percent in the first nine months of this year compared to the same period in , according to EMAE figures.
The hotels and restaurants sector recorded the highest year-on-year increase for September 2022, rising 0.3 percent, according to the estimate, which anticpates data that tracks the evolution og the Gross Domestic Product (GPD). Mining and quarrying increased 14.2 percent annually, with wholesale, retail trade and other estate activities up 5.1 percent. At the other end of the scale, the electricity, gas and water sector fell the largest amount, down 3.5 percent year-on-year, followed by financial services, whoch fell 2.3 percent.
Argetnina will grow by four percent this year, according to the latest estimate of the International Monetary Fund (IMF). In 2021, GDP rose 10.3 percent.