Argentina: Economic activity growth eases in February but stays upbeat
Latest reading: The monthly indicator for economic activity (EMAE) grew 5.7% year on year in February (January: +6.7% yoy), the fourth straight monthly expansion. Looking at the details of the release, mining, manufacturing, finance and retail were key growth drivers, while agriculture saw limited growth, likely held back by dry weather.
On a monthly basis, economic activity rose at a faster rate of 0.8% in February (January: +0.6% mom), marking the fifth consecutive month of growth. Meanwhile, the trend improved significantly, with the annual average variation of economic activity coming in at minus 0.1%, up from January’s minus 0.8% reading.