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.