Argentina: Economic activity slows further in February
April 20, 2012
In February, the monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Economica) added 5.2% over the same month last year. The figure was down from the 5.5% increase recorded in January and marked, in fact, the lowest reading since January 2010. A month-on-month comparison, however, paints a better picture than the annual figures, as the economy expanded a seasonally adjusted 0.25% over the previous month, which contrasted the 0.35% drop seen in January. Despite the monthly increase, annual average growth in economic activity moderated from January's 8.5% to 8.1%, the lowest level since September 2010.
Author: Armando Ciccarelli, Head of Data Solutions