Armenia's economic activity expanded 7.3 percent year-on-year in May 2019, after an upwardly revised 9.5 percent advance in the previous month. Output growth slowed for industry (10.2 percent vs 13.2 percent in April); services (14.8 percent vs 16.2 percent) and retail trade (4.9 percent vs 9.0 percent). In contrast, construction rose slightly faster (2 percent vs 1.8 percent). Leading Economic Index in Armenia averaged 5 percent from 2012 until 2019, reaching an all time high of 17.20 percent in October of 2017 and a record low of -7.70 percent in October of 2016.
Leading Economic Index in Armenia is expected to be 4.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Leading Economic Index in Armenia to stand at 11.50 in 12 months time. In the long-term, the Armenia Economic Activity Index is projected to trend around 12.80 percent in 2020, according to our econometric models.