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Argentina Economic Activity February 2023

Argentina: Economic activity growth slides to 10-month low in February

The monthly indicator for economic activity (EMAE) grew 0.2% in year-on-year terms in February, which was a deterioration from January’s 3.1% increase. The notable deterioration was largely due to a deterioration in the manufacturing and construction sectors. However, agriculture sectors decreased at a more moderate rate. Lastly, activity in the hotels and restaurants sector lost pace, while transport and communications production dipped at a steeper pace than in the previous month.

On a monthly basis, economic activity was flat in February (January: +0.5% mom). Meanwhile, annual average economic activity growth fell to 4.4% in February (January: +5.1%), pointing to a worsening trend.

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