Argentina: Economic activity expands at slowest pace in five months
October 18, 2013
In August, economic activity increased a working-day adjusted 4.0% over the same month last year, which marks the lowest figure in five months. The print came in below the 5.1% increase tallied in July.
Compared to the previous month, economic activity expanded 0.4% in seasonally-adjusted terms, which contrasted the 1.2% drop registered in July. Meanwhile, annual average growth in economic activity rose from 3.8% in July to 4.1% in August.
LatinFocus Consensus Forecast panelists expect GDP to rise 3.7% this year, which is down 0.2 percentage points from last month's forecast. For 2014, participants expect GDP growth to slow to 2.5%, which is down 0.1 percentage points from last month's projection.
Author: Armando Ciccarelli, Head of Data Solutions