LatinNews Daily - 23 April 2021

In brief: Argentine economy suffers monthly contraction

* Argentina’s national statistics institute (Indec) has released the latest figures for its monthly indicator of economic activity (Emae), a preview of GDP growth, which saw a 1.0% contraction in February compared with January. This is the first negative variation of the Emae in nine months, as monthly economic activity grew after the deep contractions in March-April last year caused by the onset of the coronavirus (Covid-19) pandemic. In year-on-year terms, the February Emae contracted 2.6%. After a deep 9.9% contraction last year, Argentina’s GDP is forecast to grow 6.7% this year, according to the latest monthly survey of private sector analysts by the central bank (BCRA), but a surge in coronavirus infections and renewed restrictions are likely to blight current projections.