In July 2025, Argentina's economic activity exhibited a year-on-year growth of 2.9%, marking a slowdown from a significantly revised 6.1% growth in June. This deceleration was attributed to a weaker performance across a range of sectors. Specifically, agriculture showed a modest increase of 0.7% compared to 3.6% in June. Similarly, growth in construction slowed to 1.3% from 9.9%, and trade grew by 4.3%, down from 11.5%. The hospitality sector saw a rise to 5.9% from 4.3%, while transport and communications marginally increased to 1.5% from 1.2%. Financial services grew by 23.2%, a dip from 28.7%, and real estate and business services increased by 4.3%, down from 5.5%. In education, growth was minimal, at 1.2%, compared to 1.1% in June.
On the other hand, utilities and manufacturing sectors experienced a reversal, moving into contraction with declines of 1.8%, down from previous growth rates of 8.6% and 7.8% respectively. The public sector continued its slight decline, at -0.6% compared to -0.7% in June. Conversely, the mining sector experienced acceleration, recording a growth of 13.4%, up from 11.0%. On a monthly, seasonally-adjusted basis, overall activity dipped by 0.1%, with the trend-cycle remaining largely stable.
