As reported by the INDEC national statistics bureau, Argentina’s economic activity shrank 20.6% year-on-year (YOY) in May 2020, accumulating a 13.2% fall in the first five months of the year. Compared to last April, the figure registered an improvement of 10% in May, due to more flexible quarantine restrictions. In terms of specific sector contractions in May 2020 YOY: agricultural sector -10%; mining -20.3%; industry -25.7%; construction -62.2%; wholesale & retail trade -20.9%; lodging & tourism -74.3%. With one exception, the fishing sector +61%.