Strong decline in the economy in May: it collapsed by 5.8%

This is the biggest fall in 9 years. Economic activity has collapsed 5.8% in May compared with the same period of 2017, reported this afternoon the National Institute of Statistics and Census (INDEC).

Thus, the accumulation between January and May was reduced to 0.6% growth over the same period last year

The seasonally adjusted indicator was contracted 1.4% compared to last April, month in which the indicator recorded a decrease of 0.6% from one year to the next.

the agency in charge of public statistics reflected the recessionary period that began in the second quarter, especially because of the impact of the drought that has affected large areas of the country.

In the first three months the results were different: in January EMAE verified an increase of 4%; in February, it rose to 5% and in March to 2.1%, still in the measure compared to 2017.

Since taking office of Mauricio Macri, the largest decline in the indicator has was recorded in June 2016, with a percentage of 4.9% in the interannual measure, followed by July of that same year with 4.5%, as part of a deepening of the reduction initiated in April.

The data was the largest since July 2009, although the body changed the measurement methodology from this period

On 15 major lines of business, INDEC has recorded on May 6 with a negative sign, of which only two double-digit decreases

Agriculture, livestock, hunting and forestry were the branch of activity having the most high incidence in the annual contraction of EMAE c or corresponding to the month of May, according to the agency.

who contributed to the fall of the indicator were the net taxes of subsidies and transportation and communications, added

In contrast, the real estate, business and leasing sectors , financial intermediation and construction were the most positive.

In May, the post agriculture, livestock, hunting and forestry fell 35.2% from the same period in 2017.

Similarly, the fishing sector recorded a decline of 29% in May, 2% over the same period last year, while transportation and communications, decreased by 4.9%.

The manufacturing industry experienced a decline of 1.4% in the month to the study compared to the same period of 2017 On the contrary, the activity that experienced exceptional growth was financial intermediation, with 10.8% increase in May compared to the same month of 2017. [19659002] The following also achieved positive results: construction, 4.4%; real estate activities, 4%; mines and quarries, 2.6%; health and social services, 1.8%; hotels and restaurants, 0.9 and wholesale, 0.6.

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