Argentina: Economic growth moderates in March
May 23, 2011
In March, the monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Economica) rose 7.8% over the same month the previous year. The figure was down from the 8.7% increase recorded in February and below market analysts' expectations of an 8.2% rise. A month-on-month comparison does not corroborate the moderation seen in the annual figures. The economy expanded 0.53% over the previous month in seasonally adjusted terms, which was above the 0.37% increase recorded in February. Based on the monthly figures, economic activity expanded 8.6% in Q1 2011 over the same period last year, which was down from the 9.4% expansion recorded in the previous quarter.
Author: Armando Ciccarelli, Head of Data Solutions