Argentina: Economic activity rebounds in July
September 28, 2012
In July, the monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Economica) expanded 2.7% over the same month last year. The figure contrasted the 0.1% contraction seen in June, marking the first rise after two consecutive negative readings and the highest reading in four months. On a monthly basis, the economy expanded a seasonally adjusted 0.53% over the previous month, which represents a moderation compared to the 0.82% increase seen in June. Moreover, despite the monthly increase, annual average growth in economic activity dropped from 5.3% in June to 4.8% in July, the lowest reading in over two years.
Author: Armando Ciccarelli, Head of Data Solutions