Economic activity in Argentina rose 0.4% in June from the previous month in seasonally adjusted terms, according to the General Activity Index (IGA-OJF) compiled by Orlando J. Ferreres & Asociados. It was the second consecutive month of positive monthly readings, after a May that official data had shown contracting. Year-on-year, the index advanced 1.9%, bringing first-half growth to a slim 0.1%.

The second quarter as a whole expanded by 1.1% compared with the first three months of 2026, signalling that the economy is gradually finding a floor. The consultancy’s report described a “suave tendencia positiva” taking hold, with nearly all sectors recording annual gains. The sole exception was public administration and defence, which slipped 0.6% year-on-year.

Mining and quarrying again delivered the strongest performance, surging 9.8% annually, driven by record output from the Vaca Muerta shale formation. Agriculture and livestock grew 7.4%, entirely on the back of a 9.0% jump in crop production, while livestock remained in negative territory. Manufacturing industry posted a 1.4% annual increase, though it contracted 0.3% month-on-month, with plastics, machinery and textiles the main drags; refining and basic metals provided the year-on-year lift. Construction climbed 3.5% and financial intermediation rose 3.2%.

The forward-looking assessment from Ferreres & Asociados suggests a moderate recovery path. The consultancy expects “a sustained soft positive trend for activity, with the main impulse coming from the most dynamic sectors,” and sees scope for laggards such as industry and commerce to improve as domestic consumption firms. No official forecast is provided, but the near-term focus remains on whether household spending can translate to broader-based growth in the months ahead.