Argentina Economic Activity

Argentina

Argentina: Economic activity increases at fastest rate on record in September

November 20, 2015

Economic activity in September increased 2.8% over the same month last year, which was an improvement over the 2.6% rise seen in the previous month and marked the fastest increase on record.

Economic activity in September was unchanged over the previous month in seasonally-adjusted terms, which came in above the 0.20% decrease seen in August.

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 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.

According to the 2016 budget bill presented in September, Argentina’s economy will expand 2.3% this year before accelerating and growing 3.0% next year on expectations that domestic demand and exports will improve. However, contracting exports and weak investment due to political uncertainty will weigh on growth this year. FocusEconomics panelists expect GDP to expand 1.1% in 2015, which is unchanged from last month’s estimate. For next year, the panel expects the economy to slow down and grow 0.9%, which is down 0.2 percentage points from last month’s estimate. Moreover, our panelists expect non-official GDP to expand 0.6% in 2015 and 0.3% in 2016.


Author:, Senior Economist

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Argentina Economic Activity September 2015

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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