Argentina: Drop in economic activity moderates in August
October 25, 2016
In August, the monthly indicator for Argentina's economic activity (EMAE, Estimador Mensual de Actividad Económica) declined 2.6% year-on-year, which was an improvement compared to the 6.0% fall in July. The print met market expectations.
Sequential data corroborate the slight improvement. A month-on-month comparison showed that economic activity increased 0.2% in seasonally-adjusted terms in August, which contrasted July’s 0.7% decrease.
On average, in the 12 months up to August, economic activity decreased 0.7%, which was below July’s 0.1% decrease and marked the weakest growth rate in over a year.
The Statistical Institute relaunched the economic activity indicator series in August following an eight-month hiatus as statistical data had come under heavy criticism under the previous administration.
Author: Dirina Mançellari, Senior Economist