03/30/2021 16:08
Clarín.com
Economy
Updated 03/30/2021 4:18 PM
The National Institute of Statistics and Censuses (Indec) reported this Tuesday that
economic activity contracted 2% in January compared to the same month last year.
This is the first official data after confirming that the economy accumulated a
collapse of almost 10% in 2020
due to the impact of the coronavirus and the quarantine.
"In January 2021, the monthly economic activity estimator (EMAE) registered a contraction of 2.0% in the year-on-year comparison (yoy) and an increase of 1.9% compared to December in the seasonally adjusted measurement (se)" , indicated the Indec.
With the rise compared to December, the EMAE accumulated its ninth month of recovery and the highest in the last four months.
#DatoINDEC
Economic activity grew 1.9% in January 2021 compared to December and fell 2% year-on-year https://t.co/wOzzZPojvv pic.twitter.com/rlhUfYn4H5
- INDEC Argentina (@INDECArgentina) March 30, 2021
Seven sectors grew year-on-year, two more than in December.
In January, Fishing led growth (12.3% yoy), followed by Construction, which grew 10.2% yoy and accumulates the third consecutive increase, and the second at double-digit rates.
Financial Intermediation (7.2% yoy), Industry (4.6% yoy) and Commerce (2.6% yoy) also grew, the latter two sectors registering the third consecutive increase.
The Agricultural sector (1.7% yoy) and Real estate, business and rental activities (1.2% yoy) also expanded, registering their first growth after eleven months of decline.
Of the sectors that fell, the majority slowed their rate of decline compared to the previous month.
Once again, the greatest contraction was recorded in Hotels and Restaurants, although its fall slowed by 10 percentage points (pp) to -39.1% yoy (vs. -49.6% yoy in December 2020), followed by Other service activities ( -19.2% yoy vs. -21.9% yoy in December 2020) and Transportation and Communications (-15.8% yoy vs. -18.9% yoy in December 2020).
Mines and quarries also fell (-7.2% yoy vs. -9.1% yoy in December 2020), Public Administration (-5.6% yoy vs. -8.5% in December 2020), Education (-4 , 1% yoy, same December), Social and health services (-1.2% yoy vs. -1.6% yoy in December 2020) and Electricity, gas and water (-0.9% yoy vs. +2 , 8% yoy in December 2020).
The Ministry of Economy also indicated that
"taxes net of subsidies fell 1.9% yoy, the same as in December."
In December,
the EMAE
registered a contraction of 2.2%
compared to the same month of 2019 and an improvement of 0.9% compared to last November in the seasonally adjusted measurement.
With the December numbers, it was confirmed that throughout 2020 the EMAE accumulated a fall of 10%, in a year marked by isolation measures
willing to moderate the progress of Covid-19.
Premises closed due to the crisis that the coronavirus installed.
Photo EFE.
After having gone through the most intense moment of the pandemic, with falls of around 25% in April and May, economic activity managed to recover in the second part of the year and closed 2020 with a fall of almost 10%, less than projected initially in the 2021 Budget, 12.1%.
In December, 6 of the 15 sectors that make up the EMAE grew year-on-year, when in November the improvements comprised 4 items.
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