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.