Argentina: Economic activity moderates further in December
February 17, 2012
In December, the monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Economica) added 5.5% over the same month the previous year. The figure was down both from the 7.6% increase recorded in November and market expectations of a 7.0% rise. In fact, the result marked the lowest reading since January 2010. A month-on-month comparison paints an even bleaker picture than the annual figures, as the economy contracted a seasonally adjusted 0.20% over the previous month, which contrasted the 0.86% increase in November. Based on monthly economic activity figures, the economy expanded 8.8% in 2011, which follows a strong 9.2% expansion in 2010.
Author: Armando Ciccarelli, Head of Data Solutions