Argentina’s economic activity contracted by 1.7% year-on-year in August 2026, deepening from a 1.4% decline in July and defying expectations for a 0.3% increase. Of the 15 sectors surveyed, 10 registered declines, with fishing recording the sharpest drop at 15.7%. Manufacturing output fell 3.2%, while wholesale and retail trade and repair activities decreased 3.5%. Financial intermediation shrank 3.8%, transport and communications were down 2.9%, and tax-related revenues declined 4.2%.
By contrast, five sectors posted annual growth. Mining and quarrying led the gains, expanding 11.1%, followed by electricity, gas and water, which rose 4.3%, and hotels and restaurants, up 3.1%. On a month-on-month basis, the EMAE (Monthly Estimator of Economic Activity) edged up 0.1% in seasonally adjusted terms, partially recovering from a 2.9% drop in July.