Argentina Economic Activity

Argentina

Argentina: Economic activity expands again in December

March 2, 2015

Economic activity increased 0.6% annually in December, which was up from the 0.2% rise tallied in November. December’s result represents the third consecutive month of expansion after a three-month period of declining economic activity.

Compared to the previous month, economic activity rose a mild 0.1% in seasonally-adjusted terms in December, which contrasted the 0.1% drop recorded in the previous month.

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.

LatinFocus Consensus Forecast panelists expect official GDP to increase 0.2% in 2015, which is up 0.2 percentage points from last month’s forecast. For 2016, participants expect official GDP to expand 2.3%. The panel sees non-official GDP contracting 1.5% in 2015; they expect it to rebound to a 2.0% expansion in 2016.

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Argentina Economic Activity December 2014

Note: Month-on-month and year-on-year changes of economic activity in %.
Source: Argentina National Statistical Institute (INDEC) and FocusEconomics calculations.


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