Argentina: Economic activity moderates notably in April
June 16, 2012
In April, the monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Economica) added 0.6% over the same month last year. The figure was down from the 4.1% increase recorded in March and marked, in fact, the lowest reading since October 2009. A month-on-month comparison paints an even bleaker picture than the annual figures, as the economy contracted a seasonally adjusted 1.31% over the previous month, which contrasted the 0.51% increase seen in March and marked the lowest reading since December 2008. Meanwhile, annual average growth in economic activity dropped from 7.8% in March to 7.0% in April.
Author: Armando Ciccarelli, Head of Data Solutions