Argentina: Economic activity moderates further in December
February 15, 2013
In December, the monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Economica) expanded 1.1% over the same month the previous year. The figure was below the 1.8% increase seen in November, but marked a third consecutive positive reading.
On a monthly basis, the economy expanded a seasonally adjusted 0.38% over the previous month, a notch down from the 0.39% increase seen in November. Based on monthly economic activity figures, the economy expanded 1.9% in 2012, which was in line with LatinFocus Consensus Forecast expectations and marked a strong deceleration compared to the 8.9% expansion recorded in 2011.
Author: Armando Ciccarelli, Head of Data Solutions