Argentina: Economic activity slows down in November
January 18, 2013
In November, the monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Economica) expanded 1.8% over the same month the previous year. The figure was below the 3.0% increase seen in October, but marked a second consecutive positive reading.
On a monthly basis, the economy expanded a seasonally adjusted 0.37% over the previous month, which represents a deterioration compared to the 1.14% increase seen in October. As a result of the subdued annual expansion, the trend deteriorated further, with the annual average growth in economic activity dropping from 2.7% in October to 2.2% in November, the lowest level in more than two years.
Author: Armando Ciccarelli, Head of Data Solutions