Argentina Economic Activity February 2017

Argentina

Argentina: Economic activity returns to contraction in February

March 28, 2017

In the second month of the year, the monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Económica) dropped 2.2% year-on-year, contrasting January’s 1.4% increase. The print marked the lowest reading in four months.

Sequential data was also downbeat. A month-on-month comparison showed that economic activity declined 1.9% in seasonally adjusted terms in February, the worst result in almost five years and below January’s revised 0.4% decrease (previously reported: -0.5% seasonally adjusted month-on-month).

On average, economic activity decreased 2.4% in the 12 months up to February, which is down from the 2.2% drop in the 12 months up to January.

Our analysts project the economy to rebound and expand 2.9% this year, which is down 0.1 percentage points from last month’s forecast. For 2018, panelists expect the economy to expand 3.1%.


Author: Massimo Bassetti, Economist

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Argentina Economic Activity February 2017

Note: Year-on-year changes and annual average growth rate of monthly economic activity in %.
Source: Argentina National Statistical Institute (INDEC) and FocusEconomics calculations.


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