Argentina: Economic growth accelerates in May
July 19, 2011
In May, 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 up from the 7.1% increase recorded in April and slightly above market analysts' expectations of a 6.9% rise. A month-on-month comparison corroborates the acceleration seen in the annual figures. The economy expanded 1.52% over the previous month in seasonally adjusted terms, which was above the 0.69% increase recorded in April. Despite the monthly improvement, the trend deteriorated, with annual average growth in economic activity dropping from 9.6% in April to 9.1% in May.
Author: Armando Ciccarelli, Head of Data Solutions