Economic activity grew 7.4% in May in relation to the same month last year and 0.3% compared to last April, the National Institute of Statistics and Censuses (Indec) reported on Wednesday. In this way, the Monthly Estimator of Economic Activity (EMAE) accumulated an increase of 6.2% in the first five months in relation to the same period in 2021.
By items, the main increase was registered in Hotels and Restaurants, with an improvement of 44.3% year-on-year, a situation that is explained by the fact that this sector was one of the hardest hit by the coronavirus pandemic.
In second place was “Exploitation of Mines and Quarries”, with an increase of 14.2%, followed by Construction 13.8%; Wholesale and Retail Trade, 11.6%; Transportation and Communication, 11%; and the Manufacturing Industry, with a rise of 10.6%.
Meanwhile, the Fishing item marked an improvement of 9.9% year-on-year; Public Administration, defense and security, 9.6%; Net taxes and subsidies, 9.3%; and the Generation of Electricity, gas and water, 7.8%.
Below the average of 7.4% were Real estate activities, with a rise of 7.3%; Teaching, 6.3%; Financial intermediation, 2.8%; and Social and Health Services, 1.3%.
In May, the only item that marked a negative result was Agriculture and Livestock, with a drop of 5.3% year-on-year.
— INDEC Argentina (@INDECArgentina) July 20, 2022