LatinNews Daily - 26 January 2022

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In brief: Argentina’s economy posts strong growth

* Argentina’s national statistics institute (Indec) has released the latest figures on its monthly index of economic activity (Emae), showing that Argentina’s economic activity expanded 9.3% year-on-year in November. The strongest performing sectors were hotels & restaurants (+59.8%), and exploitation of mines and quarries (+20.4%) while electricity, gas & water (-0.2%) and fishing (-6.0%) were the two sectors to register a decline. In monthly terms, the November Emae grew 1.7% compared with October, the ninth consecutive month of positive growth. The November figure brings accumulated growth for the first 11 months of 2021 to 10.3%. The latest International Monetary Fund (IMF) World Economic Outlook growth projections, released yesterday (25 January), estimate that Argentina’s GDP grew 10% in 2021 and forecast it will grow 3.0% this year, a 0.5 percentage point increase on the IMF’s previous (October 2021) estimate.

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