Argentina's Economic Growth 4.8% Year-on-Year in September

This is related to the Monthly Estimator of Economic Activity (EMAE), which showed a decrease of 0.3 percent concerning August, while accumulating an increase of 6.2 percent this year through September.

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"In September 2022, the Monthly Estimator of Economic Activity (EMAE) registered a variation of 4.8% concerning the same month of 2021," the INDEC report said.

The agency said this variation represents a 0.3 percent decrease from last August. It implies the interruption of a positive streak of five consecutive months. The indicator accumulated an increase of 6.2 percent in the first nine months of the year. 

In September, "12 of the activity sectors that make up the EMAE registered increases." In this sense, the official statistical agency said the hotel and catering sector and mining and quarrying were the most outstanding, with increases of 30.3 percent and 14.2 percent, respectively.

Economic activity grew 4.8% year-on-year in September 2022 and was down 0.3% compared to August.

Regarding the year-on-year variation of the EMAE, INDEC said that the Wholesale, Retail and Repair Trade sectors increased by 7 percent. Manufacturing Industry experienced a 4.1 percent boost and Real estate, business and renting activities increased by 5.1 percent.

"Together, the three sectors contributed 2.2 percentage points to the year-on-year increase in the EMAE index."

Sectors showing a decline in the year-on-year comparison include Electricity, gas, and water, with a negative impact of 3.5 percent, and Financial intermediation, with a drop of 2.3 percent.

"Between the two, they subtracted 0.1 percentage points from the year-on-year variation of the EMAE."

According to INDEC, the EMAE indicator "reflects the monthly evolution of the economic activity of all productive sectors at the national level. This indicator makes it possible to anticipate the various rates of the quarterly gross domestic product (GDP)."