The National Institute of Statistics and Census (INDEC) reported on Tuesday that Argentina's economic activity (EMAE) improved 5.5% year-on-year in December and ended 2024 with a decline of 1.8%, a monthly figure better than expected by analysts, who estimated an increase of 3.5%.

In December 2024, the EMAE recorded a 0.5% increase compared to November in the seasonally adjusted measurement.

Compared to the same month in 2023, nine activity sectors that make up the EMAE registered year-on-year increases in December, among which stand out Financial intermediation (+18.0%) and Wholesale, retail trade and repairs (7.4%).

The manufacturing industry activity (6.7%) had the greatest positive impact on the year-on-year variation of the EMAE, followed by wholesale, retail and repair trade (7.4%).

Six sectors of activity recorded year-on-year declines, including Fishing (-25.0%) and Construction (-7.2%). Construction (-7.2%) and Public Administration and Defence, Compulsory Social Security Plans (-2.5%) were the most negatively affected and accounted for 0.34 percentage points of the year-on-year change in the EMAE.