In addition, the trend-cycle indicator consolidates its most extensive expansion phase in nearly 15 years
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The Monthly Economic Activity Estimator (EMAE) recorded a 1.6% growth in April 2026 compared to the same month last year, according to the National Institute of Statistics and Censuses (INDEC).
This figure reflects a new expansion of activity, in a context of economic recovery following the temporary stagnation of recent months, caused by the "kuka risk" during the 2025 elections.
At the same time, the trend-cycle indicator recorded a 0.3% monthly increase, accumulating more than 2 years of growth and consolidating the longest expansion phase of the indicator in nearly 15 years.
Javier Milei and Luis Caputo
According to the official report, seven of the fifteen sectors that make up the indicator showed year-on-year increases. Among them, Mining and quarrying stood out with a 17.1% increase, and Agriculture, livestock, hunting, and forestry, which advanced by 10.9%.
This last sector was also the one with the greatest positive impact on the overall EMAE result, followed by mining activity.
The message from Toto Caputo
Meanwhile, the Minister of Economy, Luis "Toto" Caputo, highlighted that the EMAE grew 2.1% in the first four months of 2026 compared to the same period last year.
He also noted that the trend-cycle indicator, which allows for the analysis of the underlying evolution of the economy, recorded a 0.3% monthly increase and accumulates 25 consecutive months of growth.
The message from Luis Caputo
As the official explained, this sequence represents the longest expansion phase of the indicator in nearly 15 years, demonstrating a sustained recovery trend.
GDP Growth
Last week, INDEC published the Activity Level Progress Report for the first quarter of 2026. The report revealed that the Gross Domestic Product (GDP) recorded a 2.3% year-on-year increase and a 0.7% rise compared to the fourth quarter of 2025 in the seasonally adjusted series.
Additionally, private consumption recorded a 2.7% year-on-year increase and a 0.8% seasonally adjusted increase compared to the previous quarter, reaching a historical maximum within the statistical series.
