By Jeffrey T. Lewis
Argentina's economic activity increased for the third consecutive month in July from June and contracted from a year earlier as quarantine measures in the country were slowly relaxed.
Activity increased a seasonally adjusted 1.1% in the month and contracted 13.2% from a year earlier, according to the monthly estimate released by Argentina's National Statistics and Census Institute, or Indec, on Monday. In June activity rose a revised 7.5% in the month and contracted a revised 11.7% from a year earlier.
Argentine authorities have in recent months gradually eased many of the social distancing measures first implemented in late March at the start of the coronavirus health crisis. As businesses have re-opened, economic activity has begun to recover, though it remains below levels from a year earlier.
Indec doesn't provide a breakdown by category for the month-on-month change in activity. One of the biggest declines registered from a year earlier was the 65.4% drop in activity at hotels and restaurants, many of which were completely closed at the start of the pandemic.
Retail activity fell 5.8% in July from a year earlier, and construction declined 30.1% in the same period, according to Indec.
Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
