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Armenia’s economic activity grew by 6.5% year-on-year in July 2026, slowing from a downwardly revised 7.5% expansion in June. This was the weakest pace since April 2025, reflecting a moderation in industrial production growth (3.1% vs. 4.1% in June), while retail trade remained flat at -0.1%. In contrast, construction activity strengthened, with output growth accelerating to 26.5% from 25.4% in the previous month. On a monthly basis, economic activity increased by 4.6%, following a 4.3% rise in June. Over the January–July period, overall economic activity was 7.7% higher than in the same period a year earlier.
