In the first quarter, GDP rose 5.2% over the same period last year. The reading represents a deceleration compared to the 7.3% increase recorded in the previous quarter but came in broadly in line with last month's LatinFocus Consensus Forecast of a 5.0% expansion. In addition, the result marks the slowest expansion since the last quarter of 2009. The moderation was driven by a deceleration in domestic demand, as the contribution to growth from the external sector improved compared to the previous quarter. Total consumption added 7.3% over the same quarter of the previous year, which was below the 9.2% increase recorded in Q4 2011. Meanwhile, gross fixed investment increased 2.8% in Q1, which was notably below the 8.0% rise recorded in Q4 2011. Exports of goods and services grew 4.2% (Q4 2011: +7.1% year-on-year), while imports added a meagre 1.4% (Q4 2011: +9.8% yoy). As a result, the external sector's net contribution to overall growth swung from minus 0.6 percentage points in Q4 2011 to plus 0.3 percentage points in Q1, turning positive for the first time since the last quarter of 2009. A quarter-on-quarter analysis does not corroborate the moderation seen in annual figures, as GDP expanded 0.89% over the previous quarter in seasonally adjusted terms, up from the 0.54% increase registered in the fourth quarter.
GDP expands at slowest pace in more than two years
June 15, 2012
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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).