In the first quarter, GDP rose 9.9% over the same period the year before. The reading represented an acceleration compared to the 9.2% increase recorded in the previous quarter and beat market analysts' expectations of an 8.6% rise. The acceleration was driven by a stronger external sector, while the contribution of the domestic sector to growth deteriorated compared to the previous quarter. Total consumption added 11.1% over the same quarter of the previous year, up from the 10.9% increase recorded in Q4 2010. Meanwhile, gross fixed investment increased 19.5%, a strong result which nonetheless marked a moderation compared to the 24.7% rise in the Q4. Meanwhile, exports of goods and services grew 7.1% (Q4 2010: +7.4%), while imports added 20.4% (Q4: +32.7%). As imports slowed more than exports, the net contribution from the external sector to overall growth improved from minus 3.1 percentage points in Q4 to minus 1.9 percentage points in Q1. At the sector level, the improvement was driven by the agricultural sector, which accelerated from 10.6% growth in Q4 to 12.2% in the first quarter. Meanwhile, industry expanded 10.9%, up from the 9.0% rise in the fourth quarter. Finally, services increased 8.7% (Q4: +8.2% yoy). A quarter-on-quarter analysis corroborates the positive result seen in annual figures, as GDP expanded 2.82% over the previous quarter in seasonally adjusted terms, broadly in line with the 2.97% registered in the fourth quarter. The Central Bank sees the economy growing 6.0% this year.
Economic growth accelerates in Q1
June 17, 2011
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Argentina Economic News
October 4, 2016
At its weekly meeting on 4 October, the Central Bank of the Argentine Republic (BCRA) decided to keep the 35-day Lebac interest rate unchanged at 26.75%, matching the previous week’s decision.
September 30, 2016
In August, industrial production contracted 5.7% over the same month of the previous year, according to the latest data released by the National Statistical Institute (INDEC).
September 28, 2016
In July, the monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Económica) declined 5.9% year-on-year, which was below the 4.7% fall in June and represented the steepest contraction since July 2009.
September 28, 2016
In August, exports expanded 12.0% over the same month last year, which contrasted the 10.8% decrease seen in July and marked the highest reading since May 2013.
September 26, 2016
In August, consumer prices in the greater Buenos Aires capital area increased 0.2% over the previous month, according to recent data published by the National Statistics Institute (INDEC).