Argentina Economic Activity


Argentina: Economic activity expands again in November

January 26, 2015

Economic activity increased 0.2% annually in November, which slightly exceeded the 0.1% increase tallied in October. October was the first month since June 2014 in which the index recorded a positive annual rate of growth.

Economic activity contracted 0.1% over the previous month in seasonally-adjusted terms in November, which contrasted the 0.8% increase tallied in October.

The national statistical institute changed the base year of the index from 1993 to 2004 in March 2014. As a result, 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 notable discrepancy between official and non-official figures.

LatinFocus Consensus Forecast panelists expect official GDP to increase 1.0% in 2015, which is up 0.1 percentage points from last month’s forecast. For 2016, participants expect official GDP to expand 0.1%. The panel sees non-official GDP expanding 2.2% in 2015 and 1.8% in 2016.

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Argentina Economic Activity Chart

Argentina Economic Activity November 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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