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Argentina economic activity falls 1.7% in August
Argentina's economic activity, measured by the Monthly Estimator of Economic Activity (EMAE), fell 1.7% year-on-year in August, according to INDEC. While the seasonally adjusted series showed a marginal monthly increase of 0.1%, the result marks the second consecutive annual contraction and falls below private sector expectations of a 1% to 1.5% rebound.
The contraction was driven by declines in ten of the fifteen surveyed sectors. The most significant drops occurred in fishing (-15.7%), financial intermediation (-3.8%), wholesale and retail trade (-3.5%), manufacturing (-3.2%), and construction (-2.5%). These sectors, which are vital for domestic consumption and employment, exerted a combined negative pressure of 0.9 percentage points on the index.
Conversely, five sectors showed growth, led by mining and quarrying (+11.1%), electricity, gas, and water (+4.3%), and hotels and restaurants (+3.1%). Despite these gains, they were insufficient to offset the broader downturn. The economy has grown 1.2% in the first eight months of 2026 compared to the same period in 2025.
In the labor market, registered private sector wages rose 2.8% in August, outpacing the monthly inflation rate of 1.7%. However, on a year-on-year basis, registered private sector wages saw a 2.3% loss in purchasing power. Additionally, unemployment insurance claims rose 29.4% between January and September 2026 compared to the same period in 2025.
Entities
Argentina · CAME · INDEC · Javier Milei · Luis Caputo
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] Registered private sector wages rose 2.6% in August. sanluis24.com.ar · www.perfil.com
- [● 6 SOURCES] The commerce sector declined by 3.5% year-on-year. mendozatoday.com.ar · enfoquemisiones.com · prensaactivadigital.com.ar · www.eleco.com.ar · lu32.com.ar · +1 more
- [● 6 SOURCES] Average wages increased by 2.7% in August. www.perfil.com · www.losprimeros.tv · radioconaguante.com.ar · tolhuinprimero.com · www.cfin.com.ar
- [○ 1 SOURCE] The industrial sector declined by 3.2% year-on-year. mendozatoday.com.ar
- [● 17 SOURCES] The mining sector expanded by 11.1% year-on-year. mendozatoday.com.ar · enfoquemisiones.com · prensaactivadigital.com.ar · radiotvsierras.com · impactoinformativo.com.ar · +12 more
- [● 7 SOURCES] Monthly inflation was 1.7% in August. sanluis24.com.ar · www.perfil.com · www.losprimeros.tv · radioconaguante.com.ar · www.cfin.com.ar · +1 more
- [● 2 SOURCES] Registered private sector wages saw a 2.3% annual loss in purchasing power. sanluis24.com.ar · www.cfin.com.ar
- [DISPUTED] Economic activity fell 1.7% in August compared to the same month in 2025. mendozatoday.com.ar · www.eldiariodelaregion.com.ar · enfoquemisiones.com · prensaactivadigital.com.ar · radiotvsierras.com · +15 more
- [● 2 SOURCES] Unemployment insurance claims rose 29.4% in the first nine months of 2026 compared to 2025. periodicolasheras.com.ar · asiesnuestravida.com.ar
- [● 15 SOURCES] The manufacturing industry declined by 3.2% year-on-year. enfoquemisiones.com · prensaactivadigital.com.ar · www.eleco.com.ar · lu32.com.ar · valor.globo.com · +10 more
- [● 11 SOURCES] The economy grew 1.2% in the first eight months of 2026 compared to the same period in 2025. enfoquemisiones.com · prensaactivadigital.com.ar · radiotvsierras.com · impactoinformativo.com.ar · valor.globo.com · +5 more
- [DISPUTED] The EMAE deseasonalized series grew 0.1% in August compared to July. www.eldiariodelaregion.com.ar · enfoquemisiones.com · lamarcadelincoln.com.ar · pilardetodos.com.ar · prensaactivadigital.com.ar · +10 more