Argentina: Economic activity improves in January
March 22, 2013
In January, the monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Economica) expanded 3.2% over the same month last year. The figure was well above the revised 1.2% year-on-year increase seen in December (previously reported: +1.1% yoy) and marked a fourth consecutive positive reading.
On a monthly basis, the economy expanded a seasonally adjusted 0.36% over the previous month, which was above the 0.19% increase seen in December. Despite the positive annual result, the trend deteriorated further, with the annual average growth in economic activity dropping from 1.9% in December to 1.7% in January.
LatinFocus Consensus Forecast panellists see GDP expanding 3.1% 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