Argentina: Economic activity accelerates in May
July 24, 2015
Economic activity in May increased 2.2% over the same month last year, which was an improvement over the 1.7% increase seen in the previous month. May’s expansion in economic activity marked the highest reading since February 2013.
Compared to the previous month, economic activity in May rose 0.8% in seasonally-adjusted terms, which contrasted the 0.1% expansion seen in April.
As a result of the national statistical institute’s change to the base year of the index from 1993 to 2004 in March 2014, the new index brings the official estimates closer to the independent estimates that local private analysts produce, which have traditionally pointed to lower growth compared to official sources. However, there is still a discrepancy between official and non-official figures.
Author: Dirina Mançellari, Senior Economist