The INDEC EMAE went six months without falls, although the recovery exhibits a very tiring dynamic. Five sectors presented year-on-year improvements.
The Argentine economy registered a slight improvement in October and chained six consecutive months without monthly falls. However, in the first ten months of 2024 accumulated a contraction of 2.7%.
He INDEC Monthly Estimator of Economic Activity (EMAE) presented an advance of 0.6% compared to September. Although the indicator has not shown any declines since May, only the July data was significantly positive, taking into account the low starting point given that in the first months of Javier Milei’s Government the recession reached its lowest floor since the recession of 2001/2022.
In year-on-year terms, activity fell 0.7%, while, In relation to November 2023, an improvement of 0.5% was perceived. This was the first positive data regarding the latest figure corresponding to the government of Alberto Fernández.
Construction was, by far, the sector that most explained the general year-on-year decline already showed a negative variation of 14.5%. The other two sectors with the most weight in the economy, manufacturing industry and commerce, had drops of 2.3% and 2.1%, respectively. Likewise, he highlighted a collapse of almost 50% in fishing, largely due to seasonal reasons since spring is a time with less “peak” than the rest of the year.
At the far end, The annual growth in the mining and hydrocarbons sector and in agriculture stood out, of 7.4% and 2.3%.respectively. Financial intermediation, real estate, business and rental activities, and education also enjoyed improvements.
News in development.-
Source: Ambito
