Argentina's economic activity experienced a year-on-year growth of 6.6% in January 2025, according to the General Activity Index (IGA) from Orlando J Ferreres & Associates (OJF). Additionally, the seasonally adjusted measurement revealed an increase of 0.1% compared to the previous month. The IGA-OJF serves as a monthly estimator of the Gross Domestic Product (GDP), utilizing 122 statistical series to assess the evolution of the country's economy.
In this context, the Mining and Quarrying sector stood out with a growth of 13.9%, reaching the highest variation since mid-2022. On the other hand, public services experienced a contraction of 1.1% year-on-year. OJF & Associates projects significant year-on-year growth in the early months of the year, supported by favorable comparisons with the previous year, and a positive increase is anticipated for the seasonally adjusted series.
This anticipated increase is based on the recovery of consumption, improvements in wages and credit to the private sector, as well as reduced regulations and tax pressure. According to the report, this growth is based on "the low base offered by the first month of 2024." Furthermore, it is highlighted that the non-seasonally adjusted measurement has shown continuous growth, marking the ninth advance in the last ten months and the fifth consecutive one, reflecting the recovery of current economic activity.
Regarding the highlighted sectors in January, they include financial intermediation, the exploitation of mines and quarries, and commerce. Crude oil and natural gas production registered an increase of 11.2% in both cases. On the other hand, the manufacturing industry experienced a growth of 6.5% year-on-year, although with a monthly decrease of 0.6% when not considering seasonality. Regarding agriculture and livestock, a modest advance of 0.4% was reported.
