Argentina Economic Activity Plunges 1.4% YoY, Worst Monthly Drop in Six Years

Argentina's monthly economic activity estimator (EMAE) recorded its steepest monthly decline in six years, with a 1.4% year-on-year contraction. The downturn was driven by weakness in industry and commerce, which overshadowed gains in the primary sector. This signals deepening economic recession and raises risks for fiscal targets and market sentiment.