Argentina's April economic activity seen up 2% year-on-year: Reuters Poll

By Hernan Nessi

June ‌26 (Reuters) - Argentina's ​monthly ​economic activity indicator is forecast to show 2% year-over-year growth in ‌April, down from 5.5% in March, ⁠according to the median of a Reuters survey ‌of 10 analysts released ‌Friday.

• Despite the positive annual reading, analysts expect monthly activity declined from March, ​signaling a slow, oscillating recovery.

• The survey showed an average forecast of 1.9% ⁠year-on-year, with a range from flat to 3.7%.

• "What we ​see in April confirms the fragility of growth. There is no rebound ​or sustained growth," said Lucio ‌Garay, economist at Eco Go consultancy.

• Agriculture and industry were ⁠the main sectors driving the monthly decline, Garay said.

• Exports fell more than 10% month-on-month ⁠and investment dropped 2.5% in April, according to Garay.

• ​Argentina's industrial production fell 2.8% year-on-year in April, per the manufacturing production index (IPIm) from statistics agency ‌INDEC.

• INDEC will release the Monthly Economic Activity Estimator (EMAE) for April ‌on Monday at 1900 GMT. The ⁠indicator is considered key ‌for forecasting ​GDP.

(Reporting by Hernan Nessi, Writing by Leon Ramirez, Editing by Daina Beth ‌Solomon)

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