Argentina Economic Activity May 2017


Argentina: Economic activity gains considerable steam in May

July 26, 2017

In May, the monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Económica) rose 3.3%, the fastest rate in one and a half years well above April’s revised 0.5% expansion (previously reported: +0.6% yoy). The fishing, construction, restaurants and hotels and transport and communication 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.

A month-on-month comparison showed that economic activity expanded 0.6% in May, contrasting April’s revised 0.2% increase (previously reported: 0.0% seasonally adjusted month-on-month).

On average, economic activity decreased 1.4% in the 12 months up to May, which is an improvement from the 1.9% drop in the 12 months up to April.

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 May 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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