Despite the fact that the economy continues to slow down, activity grew by 1.3% in March

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THE economic activity It had a 1.3% expansion in March over the same month a year earlier, the National Institute of Statistics and Census (INDEC) reported on Tuesday.

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Compared to February, the Monthly Estimator of Economic Activity (EMAE) improved by 0.2%. As accumulate a 1.5% increase in Marchwhich shows a marked deceleration compared to the 5.2% GDP expansion that was recorded in the course of 2022.

Economic analysts point out that this slowdown will deepen over the course of the year, and that 2023 will end with a decline of at least 3%. Of this decline, two percentage points are a consequence of the drought which reduced the soybean harvest to half of that recorded in 2022 and subtracted the country’s income of US $20,000 million.

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INDEC reported that in relation to March 2022twelve business sectors that make up the EMAE show increasesamong which electricity, gas and water (13.6%) and mining (12.1%) stand out.

In turn, the manufacturing industry sector (3.1%) was the one with the highest positive impact in the interannual variation of the EMAE, followed by Wholesale, retail and repairs with 3.6%.

For his part, Three sectors of activity recorded decreases in the interannual comparison, among which Agriculture, breeding, hunting and forestry stand out (-12%). These sectors subtracted 1.1 percentage points from the inter-year change in the EMAE.

Source: Clarin

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