Argentina: Economic activity accelerates in December
February 24, 2014
In December, economic activity grew 2.7% over the same month of the previous year, which came in above the 2.2% expansion tallied in November. The increase overshot market expectations of a 1.4% rise.
Compared to November, economic activity expanded 0.1% in seasonally-adjusted terms, which mirrored the 0.1% increase observed in November. Based on monthly economic activity figures, the economy is expected to have expanded 4.9% in 2013, which would mark an improvement over the 1.9% expansion recorded in 2012.
LatinFocus Consensus Forecast panelists expect GDP growth of 1.7% this year, which is unchanged from last month's forecast. For 2015, participants expect GDP growth to slow to 2.3%, which is down 0.2 percentage points from last month's projection.
Author: Armando Ciccarelli, Head of Data Solutions