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1h ago

Argentina’s Economy Contracts 1% in July as Momentum Stalls, Ferreres Says

Exchange-rate turmoil and rising interest costs are curbing spending and putting the credit-led rebound at risk.

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La industria manufacturera fue el sector con el peor resultado en julio, con una contracción del 2,4% anual.
La industria automotriz fue una de las más afectadas durante julio.

Overview

  • Orlando Ferreres’ activity index fell 1.0% month on month in July, the second-steepest decline in about 16 months.
  • Overall activity now sits just 0.3% above December 2024 levels, with year-on-year growth easing to 3.6%, the weakest since November 2024.
  • Manufacturing led the setback, down 2.4% year on year, with sharp drops in oils (-10.1%) and autos (-16.5%).
  • By contrast, financial intermediation rose 23.1% year on year, mining and hydrocarbons 10.9%, and construction 4.9%.
  • Other trackers also signaled cooling—Analytica (-0.1% m/m), Equilibra (-0.3%), Banco Provincia (-0.4% four-week window)—as Ferreres warns of rising delinquency risk and tighter corporate financing alongside growing political uncertainty.