Argentina: Economic activity slows in August
October 19, 2012
In August, the monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Economica) expanded 1.4% over the same month last year. The figure was below the 2.7% increase seen in July, but marked the second increase in a row following two consecutive negative readings. On a monthly basis, the economy expanded a seasonally adjusted 0.20% over the previous month, which represents a moderation compared to the 0.56% increase seen in July. Moreover, as a result of the subdued annual expansion, the trend deteriorated, with the annual average growth in economic activity dropping from 4.8% in July to 4.1% in August, the lowest reading since May 2010.
Author: Armando Ciccarelli, Head of Data Solutions