In the third quarter of 2011, GDP rose 9.3% over the same period the year before. The reading represents an acceleration compared to the 9.1% increase recorded in the previous quarter and also beat market analysts' expectations of an 8.2% expansion. The acceleration reflects the strength of the domestic sector, which remained the main contributor to overall growth despite slowing slightly. Total consumption added 11.1% over the same quarter of the previous year, virtually in line with the 11.5% increase recorded in Q2. Meanwhile, gross fixed investment increased 16.5% in Q3, down from the 23.8% rise in Q2. Meanwhile, exports of goods and services grew 3.4% (Q2: +0.5%), while imports added 17.7% (Q2: +24.9%). Due to the improvement in exports, the external sector's net contribution to overall growth improved from minus 3.1 percentage points in Q2 to minus 2.1 percentage points in Q3. At the sector level, the acceleration was driven by the services sector, which inched up from a 9.8% expansion in Q2 to a 9.9% rise in the third quarter. In addition, the agricultural sector improved from a 5.4% contraction in the second quarter to a 3.3% drop in the third. Finally, industry grew 9.0% (Q2 2011: +11.3%). A quarter-on-quarter analysis, however, does not corroborate the acceleration seen in annual figures, as GDP expanded 1.11% over the previous quarter in seasonally adjusted terms, down from the 2.42% increase registered in the second quarter.
Economy accelerates in Q3
December 16, 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).