09/28/2020 - 16:11
Clarín.com
Economy
Economic activity fell 13.2% year-on-year in July 2020
and grew 1.1% compared to the previous month, according to data released by the National Institute of Statistics and Censuses (INDEC).
According to the report released this Monday, in the first seven months of the year the Monthly Estimator of Economic Activity (EMAE)
accumulated a fall of 12.6%
compared
to the same period in 2019.
"Global restrictions on the movement of people in order to mitigate the COVID-19 pandemic affect a significant set of economic activities in all countries," INDEC reported.
#DatoINDEC
Economic activity fell 13.2% year-on-year in July 2020 and grew 1.1% compared to the previous month https://t.co/mT75XdUGCy pic.twitter.com/ElmDIIT9MP
- INDEC Argentina (@INDECArgentina) September 28, 2020
And he added: "Given this exceptional phenomenon, the estimation process of the trend-cycle series for July 2020 was adapted following the international recommendations on the treatment of outliers for seasonal adjustment."
In this way, with the exception of Financial intermediation, which rose 2.9%, and Electricity, gas and water, with 4.4%,
the rest of the sectors registered falls in July compared to the same month of 2019.
The most affected sectors were Fishing, with a drop of 67.1%;
Hotels and restaurants, 65.4%;
and Other community, social and personal service activities, 60.3%.
During April, a month after the strict quarantine was announced, it received a knockout blow with a 26.4% drop in activity,
the largest in the country's history.
With the relaxation of the quarantine and the increase in the sectors that were allowed to resume work with health protocol, the decline in activity slowed down.
While in June the year-on-year decrease was 12.3%, in May it had been 20.5%
AFG
Look also
Coronavirus: they assure that the hotel industry will be the sector with the greatest decline in the entire economy
Figures for the week show that the economy is collapsing, but the Government looks to another channel