Argentina: Economic activity slows in June
August 16, 2013
In June, the monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Economica) increased 6.4% over the same month last year, which represents a deceleration over the 7.8% increase observed in May. June's print overshot market expectations of a 6.0% rise.
On month-on-month basis, economic activity increased 0.4% in seasonally adjusted terms, which represents a slight deceleration compared to the 0.5% rise in May. Annual average growth in economic activity rose from 2.7% in May to 3.2% in June.
LatinFocus Consensus Forecast panellists expect GDP to rise 3.6% this year, which is unchanged from last month's forecast. For 2014, participants expect GDP growth to slow to 2.6%.
Author: Armando Ciccarelli, Head of Data Solutions