Economic activity grew 5.1% during April in relation to the same month last year, the National Institute of Statistics and Censuses (Indec) reported on Thursday.
The Monthly Estimator of Economic Activity (EMAE) for April also registered a rise of 0.6% compared to March and accumulated a rise of 5.7% in the first four months of the year.
#DatoINDEC
Economic activity grew 0.6% in April 2022 compared to March and 5.1% year-on-year https://t.co/zdIhezYWrl pic.twitter.com/QpHpcgMNse— INDEC Argentina (@INDECArgentina) June 30, 2022
In this way activity exceeds the pre-covid level of February 2020 (5.8%) for eleven consecutive months and is only -2.7% from the maximum of November 2017while the trend-cycle series registered a monthly rise of 0.4%, having been on the rise for twenty months
After the Indec released the figures, the Ministry of Economy highlighted through a report that “in year-on-year terms, the rise in April” accelerated the growth rate to 5.1%, above 4.5% registered in March, and accumulates fourteen months on the rise”
If compared to April 2019, the EMAE grows 1.5%, with a rise of 0.4% compared to April 2018 and 0.2% compared to April 2017.
By sector of activity, in April all the sectors that make up the indicator grew year-on-year with the exception of Agriculture, which fell 7%, with an impact of -0.8 percentage points (pp) on growth. They recorded increases of two digits Fishing, with 68%; and a contribution of 0.2 pp; Hotels and restaurants, 40.1%; and 0.3 pp and Mines and quarries, with 17.2%; and contribute 0.5 pp.
Also noteworthy were the rises in Commerce, with 6.7% and 0.8 pp), Industry, 4.7% and 0.7 pp; together with Real estate, business and rental activities 5.7% and 0.6 pp and the Transportation and communications item advanced 7%; and 0.55pp).
These four sectors, added to Taxes (+6.4%; contribution 1.1 pp), explained 74% of the growth of the EMAE.
