Argentina: Economic activity moderates further in January
March 26, 2012
In January, the monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Economica) added 5.5% over the same month the previous year. The figure was down from the 5.7% increase recorded in December and marked the lowest reading since January 2010. A month-on-month comparison paints an even bleaker picture than the annual figures, as the economy contracted a seasonally adjusted 0.40% over the previous month, which contrasted the 0.20% increase in December. As a result of the January reading, annual average growth in economic activity moderated from December's 8.9% to 8.5%, the lowest level since October 2010.
Author: Armando Ciccarelli, Head of Data Solutions