Argentina's economic activity recorded a negative variation of 0.3% in November compared to the same month in 2024, as well as a 0.3% decrease compared to October. This information comes from the Monthly Economic Activity Estimator (EMAE) released by the National Institute of Statistics and Censuses (INDEC). In seasonally adjusted terms, the index decreased by 0.3% from the previous month, while the trend-cycle component showed no change. This is the first time in thirteen months that the indicator closed in negative territory, with September 2024 (-2.4%) being the last period of decline. Since the beginning of the year, economic activity has increased by 4.5% compared to the same period in the previous year. Compared to the same month in 2024, ten of the sectors that make up the EMAE recorded increases in November, with 'Financial Intermediation' (13.9%), mainly driven by the greater activity of agents and stockbrokerage societies, and 'Agriculture, Livestock, Hunting and Forestry' (10.5%) standing out. 'Financial Intermediation' was also the sector with the greatest positive impact on the year-on-year variation of the EMAE, followed by 'Agriculture, Livestock, Hunting and Forestry': together, these two sectors contributed 0.94 percentage points to the EMAE's variation. This also marks the beginning of the fourth quarter of 2025, during which the Gross Domestic Product (GDP) for that period will be released. In the first quarter (January-March), GDP grew by 5.8%, followed by 6.3% in the second (April-June) and 3.3% in the third (July-September).
