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May Industrial Production, Construction Activity Expected Today

ARGENTINA
  • Industrial production and construction activity data for May will be published at 2000BST(1500ET). Analysts expect IP to have fallen by 15.5% y/y, following a 16.6% y/y decline in April. Meanwhile, yesterday’s BCRA survey revealed that analysts see the economy contracting by 3.7% this year, as inflation ends the year at 138.1% y/y, down 8.3pp from the previous survey.
    • May Construction Activity YoY, prior -37.2%
    • May Industrial Production YoY, est. -15.5%, prior -16.6%
  • In other news, the government named Federico Sturzenegger as Deregulation and State Transformation Minister, according to a decree published in the official gazette. The appointment follows an announcement last month by President Milei that Sturzenegger would join the cabinet as a minister. Sturzenegger was previously BCRA President during Mauricio Macri’s administration. Separately, Economy Minister Caputo will name former YPF CEO Daniel Gonzalez as coordinating vice minister of energy and mining, according to Clarin.

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