Economic activity continued to expand in March

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Economic activity continued to expand in March

Fourth week
May 2011

According to EMAE-INDEC activity grew 0.5% relative to last month, in line with growth in the first two months (0.5%), although clearly below the last quarter (1.1%) of 2010, according to our estimates growth was even higher.

Activity grew 7.8% y/y according to EMAE-INDEC and 7.6% according to our estimates, the variations seem to be “converging” here too, like the ISAC-INDEC and our construction index in the last months.