In total, eleven of the sectors surveyed by INDEC showed improvements compared to the same period of the previous year, reflecting an economic recovery that extends in a more widespread manner to different branches of activity.
This data marks the highest level in the seasonally adjusted series since June 2022
In total, eleven of the sectors surveyed by INDEC showed improvements compared to the same period of the previous year, reflecting an economic recovery that extends in a more widespread manner to different branches of activity.
Thanks to the Government of Javier Milei, the Argentine economy showed strong upward signs during the month of February, by registering a 5.7% year-on-year growth, according to the Monthly Economic Activity Estimator (EMAE) published by the National Institute of Statistics and Censuses (INDEC).
Additionally, the Minister of Economy, Luis "Toto" Caputo, announced that this data represents one of the largest year-on-year increases in recent times and marks the highest level in the seasonally adjusted series since June 2022.
Compared to the month of January, the EMAE also showed a 0.8% seasonally adjusted monthly improvement, consolidating a positive trend that has been rising for eleven consecutive months. This behavior indicates a clear sustained recovery due to the successful economic plan of Milei's Government.
Among the sectors that drove this expansion, financial intermediation stood out, which grew by 30.2% compared to February 2023, and fishing activity, which showed a notable increase of 28.3%.
The recorded growth occurs in a context where Milei's Government seeks to consolidate macroeconomic stabilization and encourage private investment, with a series of reforms and measures aimed at restoring confidence in the domestic and foreign markets.
The good performance of the EMAE in February could become a favorable indication for the Gross Domestic Product (GDP) projections for the first quarter of the year, consolidating growth expectations after a 2023 marked by significant economic challenges inherited from the previous Kirchnerist government.
If this trend continues, the Argentine economy is heading toward a period of strong growth during 2024, with key sectors showing signs of dynamism and recovery.