Argentina: Economic activity expands at fastest level since November 2011
June 27, 2013
In April, the monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Economica) rose 7.0% over the same month last year, which came in above the revised 2.8% expansion registered in March (previously reported: +2.9% yoy). Moreover, the print overshot market expectations of a 4.1% rise.
Compared to the previous month, economic activity rose 0.5% in seasonally adjusted terms, which represents a deceleration over the 0.8% rise tallied in March. Reflecting the higher annual print, annual average growth in economic activity rose from 1.4% in March to 1.9% in April.
LatinFocus Consensus Forecast panellists see GDP expanding 3.3% this year, which is down 0.2 percentage points from last month's forecast. For 2014, panellists expect the economy to grow 2.8%.
Author: Armando Ciccarelli, Head of Data Solutions