Argentina: Economic activity jumps in January
March 29, 2018
The monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Económica) picked up in January. Economic activity accelerated from a 3.0% year-on-year expansion in December to 4.1% in January. This marked the eleventh consecutive month of economic expansion in Argentina.
January’s acceleration reflected faster growth in almost all components of the index. Most notably, year-on-year growth in construction quickened from 11.7% in December to 14.3% in January. Meanwhile, wholesale and retail sales expanded 5.5% (December: 3.7%) and financial intermediation grew 4.9% (December: 4.0%).
A seasonally-adjusted month-on-month comparison showed that economic activity inched up from a revised 0.5% increase in December (previously reported: +0.6% month-on-month) to 0.6% in January. Lastly, average economic activity edged up from 2.8% in December to 3.0% in January.
Argentina GDP Forecast
FocusEconomics Consensus Forecast panelists expect economic growth of 2.7% in 2018, which is down 0.1 percentage points from last month’s forecast. For 2019, panelists see the economy expanding 2.9%.