Argentina: Economic activity picks up in August
October 18, 2011
In August, the monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Economica) added 8.6% over the same month the previous year. The figure was up from both the 7.7% increase recorded in July and market analysts' expectations of a 7.6% rise. A month-on-month comparison corroborates the improvement seen in the annual figures, as the economy expanded 0.62% over the previous month in seasonally adjusted terms, which contrasted the 1.17% drop recorded in July. Despite the pick-up in August, annual average growth in economic activity was unchanged at July's 9.1%.
Author: Armando Ciccarelli, Head of Data Solutions