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Armenia’s economic activity rose by 7.7% year-on-year in June 2026, easing from an 11.7% increase in May, which had been the strongest expansion since December 2025. Growth slowed in both industrial production (4.0% vs. 9.5% in May) and construction output (25.4% vs. 27.1%). Retail sales edged down by 0.1%, after remaining unchanged in the previous month. By contrast, the volume of services excluding trade continued to expand robustly, surging 19.7% after a 14.7% increase in May. On a monthly basis, overall economic activity grew by 4.4%, decelerating from 9.9% in May. Over the first half of the year, aggregate economic activity was 7.9% higher than in the same period a year earlier.
