Argentina: Economic activity improves in March
May 26, 2015
Economic activity in March increased 2.0% over the same month last year, which was an improvement over the 1.4% increase seen in the previous month. March’s figure was the highest in over two years.
Compared to the previous month, economic activity in March fell 1.0% in seasonally-adjusted terms, which contrasted the 0.9% rise seen in February.
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