Argentina: Economic activity decelerates in July
September 26, 2014
In July, economic activity expanded 0.1% over the previous month in seasonally-adjusted terms. July’s reading marked a deceleration from the previous month’s result (June: +0.6% quarter-on-quarter). Compared to the same month last year, economic activity registered zero growth in July, which was down from June’s 0.7% annual expansion. The reading is based on a new calculation methodology—adopted by the national statistical institute in March in response to a request from the International Monetary Fund (IMF)—that shifts the base year of calculation from 1993 to 2004.
The new figures bring 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, a discrepancy between official and non-official figures still exists.