Economic activity grew 4.6% in December but contracted almost 3% in 2024

The Economic activity experienced an increase of 4.6% in December 2024 compared to the same month of 2023. Meanwhile, the Destationalized measurement registered a monthly growth of 1.3% With respect to November, although the closing of the year showed a 2.9% drop in interannual terms.

Tuesday, February 25INDEC will publish the official results, that could confirm or adjust the data presented by the consultant. However, the private report anticipates a positive performance of the economy at the close of 2024, with more growing sectors than in decline.

Economic Activity: What were the most prominent sectors in 2024

In detail, the study by the consultancy Orlando Ferreres, revealed that of the Eleven sectors evaluated, seven had a growth and four registered falls in December. The sector with the best performance was “financial intermediation”, with an increase of 16.2% in December. However, the improvement was not enough to compensate for the negative results of previous months, so the sector ended 2024 with a 2.4%drop, according to the report.

The sector of “Agriculture, Livestock, Hunting and Silviculture ” It was one of the few that reported positive results both in December, with a growth of 15.1%, as in the annual balance, with an increase of 35.4%. However, the consultant said the climatic perspectives have deteriorated, which could affect the returns of the next crops, especially that of corn. It is important to consider that the Strong rebound of 2024 is closely linked to the bad results of 2023, When historical drought significantly reduced the crop volumes of various productions.

Another sector that showed a good performance in December was that of “Wholesale and minor trade”, With a 6.8% recovery compared to the same month of 2023. Despite this rebound, commercial activity in the total of 2024 decreased 5.5% compared to the previous year.

The sector of “Mines and quarries” It obtained the fourth best result in December, with a 5%year -on -year growth, driven by an increase in crude oil extraction (+11.5%) and natural gas (+8.8%). Throughout 2024, the expansion of the sector reached 6.6%.

Below the general average growth of 4.6%, There is the “manufacturing industry”, with a 4.5%recovery. This is significant, since, according to official data, industrial activity had been in contraction during 19 consecutive months. However, at the end of 2024, the sector ended with an annual decrease of 6.2%.

The report He also highlighted the strong expansion of the oil sector, which was key to the positive record of December, along with a recovery in the production of machinery and equipment, particularly in the automotive industry. In contrast, the non -metallic mineral sectors and basic metals showed a slowdown in their fall, although the recovery process is slow and without clear bouncing signs.

The other two sectors that grew in December were “real estate, business and rental activities” (4.2%) and “transport, storage and communications” (2.1%).

Economic Activity: What were the sectors with the worst result in 2024

On the other hand, Four sectors had negative results in December. The most affected item was the “construction”, which contracted 10.6%. This sector ended 2024 with a strong decrease of 21.1%, mainly due to the deceleration of public works funded by the National State.

The sector of “Electricity, gas and water” He experienced a slightest 2% drop in December, with a decrease of 2.9% in the generation of electricity, attributed to a decrease in residential consumption due to thermal conditions. Despite this, the sector ended 2024 with an accumulated increase of 0.8%.

For its part, the “Social and health services” They registered a 1.8% drop in December, closing the year with a 1.1% decrease. Finally, the “Public Administration and Defense” also experienced a fall in December of 0.9%, with an annual decrease of 0.4%.

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Four sectors had negative results in December.