Argentina: Economic activity expands at slowest pace in four months in July
October 3, 2013
In July, economic activity expanded a working-day adjusted 5.1% over the same month last year, which represents the lowest print tallied in four months. The reading marks a deceleration over the 6.9% increase recorded in June.
On month-on-month basis, economic activity fell 1.2% in seasonally-adjusted terms, which was worse than the 0.6% contraction observed in June. Meanwhile, annual average growth in economic activity edged up from 3.6% in June to 3.8% in July.
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, panel 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