The Minister of Productive Development, Matias Kulfashighlighted this Tuesday the economic activity data for the first month of 2022 published by the Indec since they show how Argentina had “the best January in four years”, while anticipating that “the advanced data for February are positive”.
“The data was better than expected and shows that we had the best January in four years. Economic activity grew 1.5% against 2019, 3.2% against 2020 and 5.4% against 2021,” said Kulfas in reference to the Monthly Estimator of Economic Activity (EMAE) that relieves the Indec.
In this regard, he noted that “9 of 15 sectors grew against 2019” among which “energy, professional services, oil and mining, agriculture, commerce and industry stood out” while “the sectors most affected by the pandemic (such as culture and hotels and restaurants) sharply cut their falls.”
— INDEC Argentina (@INDECArgentina) March 29, 2022
“The monthly measurement gave a drop of 0.5% against December. The drop was expected and we were already anticipating it, since January had more industrial plant shutdowns due to vacations and a second rainy fortnight in the Central zone that stopped construction” , the minister pointed out in a thread of messages on his Twitter account.
forward, he stated“the advance data for February are positive” since “industry and construction had a very good month, to which were added good levels in hydrocarbons and also in tourism.”
“The strong economic recovery of recent months is what explains why in the fourth quarter of 2021 we reached 7% unemployment, the lowest figure in 5 years,” he said. “We will continue to work tirelessly so that this growth is consolidated year after year,” he concluded.