Argentina: Economy expands strongly in December
February 18, 2011
In December, the monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Economica) rose 9.4% over the same month the previous year. The figure was down slightly from the 9.8% increase recorded in November, but beat analyst expectations, which had economic activity expanding 8.7% year-on-year. A month-on-month comparison corroborates the positive annual reading. The economy expanded 1.10% over the previous month in seasonally adjusted terms, which was nonetheless slightly down from the 1.70% increase recorded in November. Based on monthly economic activity figures, the economy expanded 9.1% in 2010, rebounding from the previous year's growth of 0.9% and marking the strongest result since 2005. The Central Bank sees the economy growing between 3.5% and 6.5% this year.
Author: Armando Ciccarelli, Head of Data Solutions