In May 2026, the Monthly Economic Activity Estimator (EMAE) recorded a 0.2% growth in year-on-year comparison, consolidating a positive dynamic in the level of activity.
Although a seasonally adjusted measurement showed a decrease of 0.5% compared to April, the overall behavior of the indicator reflects a sustained expansion trajectory.
According to data released by INDEC, eight of the fifteen sectors that make up the EMAE showed increases compared to the same month in 2025.
INDEC data
Among them, Mining and quarrying stood out particularly, with a year-on-year increase of 15.7%, and Electricity, gas, and water, which advanced 8.0% in the same period. Meanwhile, Construction recorded a 1.9% growth.
Additionally, the activity of Agriculture, livestock, hunting, and forestry registered a year-on-year improvement of 4.6% and had the most positive impact on the variation of the EMAE, followed by the strong performance of Mining and quarrying.
Beyond these specific declines, the overall balance of the year remains positive thanks to the successful economic plan of the Government of Javier Milei. In the first five months of 2026, economic activity accumulated a growth of 1.7% compared to the same period in 2025, reaffirming the positive trend.
President Javier Milei
In this context, the trend-cycle component, which allows observing the underlying dynamics of activity, showed a 0.2% monthly increase in May.
With this result, the indicator accumulated 26 consecutive months of expansion, configuring the longest growth period since 2011.
In general terms, the data from May reflects an economy that, with momentum in strategic sectors and a sustained growth path over time, maintains a positive evolution so far in 2026.
