Argentina Economic Activity April 2017


Argentina: Economic activity expands in April

June 29, 2017

In April, the monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Económica) rose 0.6% year-on-year, below March’s revised 1.3% expansion (previously reported: +0.8% yoy). The construction, fishing, restaurants and hotels and agricultural sectors recorded the strongest annual improvements. In contrast, the mining and quarrying and electricity, gas and water sectors posted the largest year-on-year contractions.

Sequential data was flat. A month-on-month comparison showed that economic activity remained unchanged in seasonally-adjusted terms in April from the previous month, following March’s revised 1.5% increase (previously reported: +1.9% seasonally-adjusted month-on-month).

On average, economic activity decreased 1.9% in the 12 months up to April, which is an improvement from the 2.2% drop in the 12 months up to March.

Our analysts project the economy to rebound and expand 2.9% this year, which is down 0.1 percentage points from last month’s forecast. For 2018, panelists expect the economy to expand 3.1%.

Author: Massimo Bassetti, Senior Economist

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Argentina Economic Activity Chart

Argentina Economic Activity April 2017

Note: Year-on-year changes and annual average growth rate of monthly economic activity in %.
Source: Argentina National Statistical Institute (INDEC) and FocusEconomics calculations.

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