Argentina: Economic activity moderates in November
January 20, 2012
In November, the monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Economica) added 7.6% over the same month the previous year. The figure was down from the 8.2% increase recorded in October but was a notch above market expectations of a 7.5% rise. A month-on-month comparison, however, does not corroborate the moderation seen in the annual figures, as the economy expanded a seasonally adjusted 0.86% over the previous month, which was up from the 0.31% increase in October. As a result of the November reading, annual average growth in economic activity moderated to 9.2% from October's 9.4%.
Author: Armando Ciccarelli, Head of Data Solutions