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Argentina Economic Activity October 2022

Argentina: Economic activity growth slides to over one-year low in October

The monthly indicator for economic activity (EMAE) expanded 4.5% in year-on-year terms in October, which followed September’s 4.6% increase. October’s figure marked the worst reading since February 2021. The slowdown was largely due to a deterioration in the agriculture sector. In addition, the manufacturing sector lost steam. Lastly, activity in the hotels and restaurants sector gained pace, while transport and communications output grew.

On a monthly basis, economic activity fell 0.3% in October, which was below Septembers 0.2% fall and marking the worst result since March. Meanwhile, the trend pointed down, with the annual average growth of economic activity coming in at 6.7% in October, down from September’s 6.9% reading.

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