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Economic activity fell 2% in May

2021-07-21T19:18:14.040Z

This was indicated by the INDEC when publishing the data on economic activity as of May 2021. 07/21/2021 16:04 Clarín.com Economy Updated 07/21/2021 4:11 PM Economic activity fell 2% in May compared to April, as a result of the restrictions applied to curb infections by the second wave of coronavirus, as reported on Wednesday by the National Institute of Statistics and Censuses (INDEC). On the other hand, the year-on-year comparison shows an increase of 14.6% in the monthly economic act



07/21/2021 16:04

  • Clarín.com

  • Economy

Updated 07/21/2021 4:11 PM

Economic activity

fell 2% in May

compared to April, as a result of the restrictions applied to curb infections by the second wave of coronavirus, as reported on Wednesday by the National Institute of Statistics and Censuses (INDEC).

On the other hand, the year-on-year comparison shows an increase of 14.6% in the monthly economic activity estimator (EMAE), as a result of the strong impact of the strict quarantine on activity levels in May 2020.

In this way, with last year as a reference, the first five months of 2021 show an increase in the level of activity of 9.5%.


In the latest measurement released at the end of June this year,

economic activity had fallen 1.2% in April compared to March

, as a result of the restrictions imposed in the face of the pandemic.

According to the latest INDEC report, the economy reached three consecutive falls against the previous month, and accumulated a year-on-year increase of 8.2% in the first four months.

For the whole year, the national government

predicts a rebound in activity of around 7%

, although most consulting

firms

see it

closer to 6%

.

After participating in a new meeting of the Economic Cabinet at the Casa Rosada, the head of the AFIP, Mercedes Marcó del Pont, stressed that the national Executive projects that "in the

second half

of the year

this slowdown process will be consolidated in the rate of inflation

".

"We anticipated the highest inflation threshold that occurred in the month of April, then it slowly decreased in the following months. We project that for

this month of July the variation in inflation will be slightly below that of the month. past,

"predicted Marcó del Pont.

In statements to the media accredited in the Government House, among them

Clarín

, the head of the AFIP specified: "It is true that this is going to be a

gradual process

and that

we are still at very high levels (of inflation)."

Regarding the variation registered in the price of the informal dollar, he pointed out: "The informal dollar market is a very small market, it is a market that reacts upwards or downwards with few movements."

Regarding the increase in the value of the US currency in the illegal market, the national official argued: "We anticipated it. If you look in perspective

, these movements always occur in the alternative markets in the pre-electoral stages."

"It is a market that affects expectations, but not so much in terms of operations that have to do with the world of production," he added.

DD






Look also

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INDEC: in June, wholesale prices rose 3.1% and construction costs, 2%

Source: clarin

All business articles on 2021-07-21

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