Argentina: Economic activity dips in September
The monthly indicator for economic activity (EMAE) decreased 0.7% in year-on-year terms in September, which contrasted August’s 0.1% increase. The downturn came on the back of a deterioration in the manufacturing and construction sectors. However, the agriculture sector dropped at a more moderate pace. Lastly, activity in the hotels and restaurants sector lost pace, while transport and communications output moderated.
On a monthly basis, economic activity was flat in September (August: +1.2% mom). Meanwhile, the trend pointed down, with the annual average variation of economic activity coming in at minus 0.6% in September, down from August’s minus 0.2% reading.