Argentina: Economic activity moderates in October
December 21, 2011
In October, the monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Economica) added 8.1% over the same month the previous year. The figure was down from the 8.9% increase recorded in September, but still beat market analysts' expectations of a 7.4% rise. A month-on-month comparison, however, does not corroborate the moderation seen in the annual figures, as the economy expanded 0.31% over the previous month in seasonally adjusted terms, which contrasted the 0.15% drop recorded in September. As a result of the October reading, annual average growth in economic activity was unchanged at September's 9.4%.
Author: Armando Ciccarelli, Head of Data Solutions