Tuesday, January 24, 2023 | 6:15 p.m.
Economic activity during November last year increased 2.6% compared to the same month in 2021, the National Institute of Statistics and Censuses (Indec) reported on Tuesday.
The Monthly Estimator of Economic Activity (EMAE) registered a drop of 0.7% in November in relation to October, and when INDEC only has to compute December, the accumulated growth of last year reached 5.9%.
Thirteen of the 16 items surveyed by the agency closed with an increase. The only casualties were recorded in Fishing, with 16.8%; Agriculture and Livestock, strongly influenced by the drought, with 6.3%, and Financial intermediation, with 3.3%.
The biggest increases were noted in “Hotels and restaurants” with 22%; exploitation of mines and quarries, with 9.5%; Wholesale and retail trade, 3.5%; Real estate, business and rental activities, 3.6%; Industry 2%; Construction 2.9, among others.
The Minister of Economy, Sergio Massa, affirmed that the growth of the Gross Product in 2022 will be “well above 5%” and remarked that “you can fight against inflation and order spending without cooling the economy and proposing painful adjustments”. .
He also assured investors that “they will have our full support” and urged “that we work to recover income, because the Argentine middle class and laborers had a hard time.”
The head of the Palacio de Hacienda pointed out that his expectation for 2023 is to “grow more than three points”, and remarked that “the path is credit recovery, consumption capacity, and the other great path is income recovery.”
In this way, Massa explained, “it would be the third year of consecutive growth, and Argentina has not grown three consecutive years for a long time.”
