The Monthly Estimator of Economic Activity (EMAE) prepared by the National Institute of Statistics and Census (INDEC) showed a contraction of 0.3% real in September with respect to the month of August. This is the first drop since march from 2022, when the index reflected a decrease of 0.7%.
The EMAE, which according to the INDEC, “reflects the monthly evolution of the economic activity of all the productive sectors at the national level”, that is, it allows anticipating the quarterly GDP variation rates.
If the organism’s figures are taken into account, in the accumulated sequence of January-September, the estimate that allows us to read the trajectory of the Gross Domestic Product (GDP), had an expansion of 6.2% in relation to the same period of 2021. Likewise, it registered a rise of 4.8% YoYcompared to the ninth month of last year.
However, if the monthly evolution of economic activity is observed, it can be seen that falls were reported in three months of the year: January (-0.8), March (-0.7) and September (-0.3). .
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How economic activity changed in September
The indicator of economic activity, which brings together several of the components that make up the Gross Domestic Product, registered increases in September in 13 of the 16 sectors that comprise it.
In relation to September of last year, the report published by INDEC highlighted the increases in activity in the areas Hotels and restaurants (30.3%) and Mining and quarrying (14.2%).
Likewise, the industry Wholesale, retail and repair trade (7%) had the highest incidence in the interannual variation of the EMAE, followed by Manufacturing industry (4.1%) and Real estate, business and rental activities (5.1%). Among the three sectors contributed 2.2 percentage points to the year-on-year increase in the index.
For its part, the Electricity, gas and water sector (-3.5%) was the one that registered the biggest fall in the year-on-year comparison, followed by Financial intermediation (-2.3%): between the two they subtracted 0.1 percentage points.
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