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Argentina Economic Activity November 2022

Argentina: Economic activity records slowest expansion since February 2021 in November

The monthly indicator for economic activity (EMAE) rose 2.6% year on year in November (October: +4.5% yoy). November’s figure marked the worst reading since February 2021. November’s reading was partly driven by a deterioration in the agriculture sector. In addition, the manufacturing sector lost steam. Lastly, activity in the hotels and restaurants sector lost pace, while transport and communications output moderated.

On a monthly basis, economic activity fell at a sharper rate of 0.7% in November (October: -0.5% mom), the worst result since January. Meanwhile, the trend pointed down, with the annual average growth of economic activity coming in at an over one-year low of 6.2% in November, down from October’s 6.8%.

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