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Montevideo, October 21st 2016 - 11:16 UTC

Argentine economy 12 month expansion in August was 4%

Monday, October 21st 2013 - 06:16 UTC
Full article 68 comments
The government target for this year is 5.1% The government target for this year is 5.1%

Argentine economic activity grew 4% in August from the same month last year, the government said on Friday, growth that far exceeded market expectations.

The percentage is based on the monthly EMAE economic activity index, a close proxy for gross domestic product. The government's INDEC statistic office also said in a statement that August economic activity rose 0.4% from July.

For full year 2013, the government of President Cristina Fernandez expects GDP to expand 5.1%, following GDP growth of 1.9% in 2012 and 8.9% in 2011, according to official figures.

Last year's expansion was restricted by weak global demand, a drought-hit grain harvest, high inflation and the negative impact of currency controls on investment in Latin America's No. 3 economy.

The region as a whole will likely struggle to lift economic growth next year after a disappointing 2013, raising the stakes for policymakers already grappling with prospects of higher market interest rates in the United States.

Top Comments

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  • DanyBerger

    Argentina is having an spectacular performance in economic terms despite Clarin Miente, el campo and La Destruccion of Mitre.

    Economy growth is driven by little and medium size industrial sector, Technology and service companies.

    I will really expect that the govt can shut down Clarin MIente and La Destrucción. That will help a lot because they produce more harm to the economy than 3 financial crisis all together.

    Another think that will help a lot would be to reduce holidays in to increase productivity Argentina has a lot of days lost by long weekends, etc.

    Working hard, saving and investing is the formula for success.
    My dad told me that since I was a child and he was always right.

    Oct 21st, 2013 - 06:50 am 0
  • Xect

    'Argentina is having an spectacular performance'

    Oh Danny. It seems that the government really can pull the wool over some folks eyes.

    Oct 21st, 2013 - 07:12 am 0
  • golfcronie

    Who produced these statistics?? Oh wait, the Argentine Government. Does anyone believe a word they say? Not in the developed world they don't.
    Sorry Dany you are clutching at straws.

    Oct 21st, 2013 - 08:14 am 0
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