LatinNews Daily - 24 February 2023

In brief: Argentina’s economic activity shrinks in December

* Argentina’s national statistics institute (Indec) has released the latest figures on its monthly index of economic activity (Emae) which shows that monthly growth in December 2022 was -1.0% while in year-on-year terms, economic activity posted a decline of 1.2% - the first year-on-year monthly decline since February 2021. The December 2022 figure represents a decrease both in terms of monthly and annual growth compared to November 2022 when monthly growth was -0.7% while in year-on-year terms economic activity was up 2.3%. The sectors which posted the highest year-on-year growth in December 2022 were fishing (+15.5%), hotels & restaurants (+10.8%), and mining & quarrying (+10.8%). The sector to register the highest yearly decrease was agriculture, livestock, hunting & forestry (-18.0%), followed by manufacturing industry (-2.1%).

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