UPDATE 1-Argentina economic activity rises 2.4% in August

(Adds driver of growth in paragraph 3, monthly result in paragraph 4, context in paragraphs 5-6) BUENOS AIRES, Oct 22 (Reuters) – Argentina's economic activity grew 2.4% in August compared with the same month last year, data from Argentina's INDEC statistics agency showed on Wednesday. The figure for Latin America's third-largest economy came in just under the 2.5% figure projected by analysts polled by Reuters. The result was driven mainly by strong gains in financial intermediation (+26.5%) and mining (+9.3%). Manufacturing (-5.1%) and trade (-1.7%) weighed on growth, together subtracting just over a percentage point from the annual expansion. In seasonally adjusted terms, activity for August was up 0.3% compared with the previous month. INDEC's Monthly Economic Activity Estimator (EMAE) is a closely-watched economic indicator in Argentina, providing a preview for broader economic growth trends. The economic outlook for coming months is uncertain, tied to legislative elections on October 26. (Reporting by Hernan Nessi and Brendan O'Boyle; Editing by Sarah Morland)

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