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.