Armenia’s economic activity rose by 7.2% year-on-year in February 2026, slowing from a 7.6% increase in the previous month. The slowdown was driven by a softer rise in the services sector, excluding trade (7.0% vs 7.4% in January). Meanwhile, industrial output accelerated (23.8% vs 10.6%), alongside gains in construction activity (21.8% vs 18.7%) and trade turnover (5.6% vs 0.7%). On a monthly basis, overall economic activity rebounded by 4.5%, following a 48.3% plunge in January. In the January-February period, Armenia’s economic activity was 7.4% higher than in the same period last year.