Argentina: Economic activity slows in February
April 19, 2013
In February, the monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Economica) expanded 2.4% over the same month last year. The figure came in below the revised 3.3% year-on-year increase seen in January (previously reported: +3.2% yoy) but beat market expectations of a 2.0% rise.
On a monthly basis, the economy expanded a seasonally adjusted 0.30% over the previous month, which was below the 0.35% increase seen in January. As a result of the slower annual reading, the trend deteriorated further, with the annual average growth in economic activity dropping from 1.7% in January to 1.5% in February.
LatinFocus Consensus Forecast panellists see GDP expanding 3.1% this year, which is down 0.2 percentage points from last month's forecast. For 2014, panellists expect the economy to grow 2.8%.
Author: Armando Ciccarelli, Head of Data Solutions