Argentina: Economy moderates but remains strong in February
April 18, 2011
In February, the monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Economica) rose 8.7% over the same month the previous year. The figure was down from the revised 9.5% increase recorded in January, but was in line with market analysts' expectations. A month-on-month comparison corroborates the moderation seen in the annual figures. The economy expanded 0.37% over the previous month in seasonally adjusted terms, which was down from the 0.48% increase recorded in January. Despite the moderation, the trend continued to improve, as average annual growth in economic activity rose from 9.5% in January to 9.6% in February, marking the fastest pace since September 2004.
Author: Armando Ciccarelli, Head of Data Solutions