02/24/2021 16:07
Clarín.com
Politics
Updated 02/24/2021 4:21 PM
Economic activity contracted 2.2% year-on-year in December, so 2020 ended with a sharp 10% drop, according to monthly data from the National Institute of Statistics and Censuses (Indec).
In addition, the agency reported that, in relation to November, the activity grew 0.9%.
"In relation to the same month of 2019, there were increases in six of the sectors that make up the EMAE. The financial intermediation sector (11.3% year-on-year) was the one with the highest increase in the month, while the growth of Wholesale trade , retail and repairs (10.7%) was the one with the highest positive impact, "they indicated.
The report also indicated that "in the accumulated of 2020 only two sectors showed an increase: Financial intermediation (2.1% year-on-year) and Electricity, gas and water (0.8%). The rest of the economic sectors registered falls in the year, among which the decrease in Hotels and restaurants (-48.6% yoy) and that of Other community, social and personal services activities (-37.5% yoy), as a result of the impact of the COVID-1 pandemic ".
#DatoINDEC
Economic activity grew 0.9% in December 2020 compared to November and fell 2.2% year-on-year https://t.co/fO9NEQYObw pic.twitter.com/liza2d5I8a
- INDEC Argentina (@INDECArgentina) February 24, 2021
At the end of last November, the Monthly Estimator of Economic Activity (EMAE) accumulated a decline of 10.6%, in a context in which several sectors showed a recovery.
The EMAE fell 3.7% in year-on-year terms in November, the lowest percentage since last March, when activity fell 11.3% at the start of mandatory preventive isolation measures to prevent the advance of the coronavirus.
The most important drops in the level of activity occurred in April and May, with decreases of 26.4% and 20.6%, respectively.
In June, the EMAE registered a 12.3% year-on-year drop;
in July a negative result of 13.2% and in August of 11.6%.
The slowdown was greater in September and October, with decreases of 6.9% and 7.4%, to which November was now added, with a decline of 3.7%, the lowest percentage since the start of the pandemic.
Last February, a month in which activity was normal due to the effects of the coronavirus still not being felt in the country, the EMAE registered a decline of 2.2% year-on-year.
