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Montevideo, November 19th 2017 - 04:47 UTC

Argentina GDP contracts 3.8% in third quarter: sharp declines in manufacturing and construction

Saturday, December 31st 2016 - 16:25 UTC
Full article 30 comments
Outgoing Finance Minister Alfonso Prat-Gay foresees a rise of 3.5% next year. Outgoing Finance Minister Alfonso Prat-Gay foresees a rise of 3.5% next year.

Argentina’s Gross Domestic Product (GDP) fell 3.8% at the end of the third quarter of the year, with sharp declines in manufacturing, construction and consumption, the INDEC official statistics bureau reported.

 A decline of 0.2% was seen from July to September for the second quarter (April-June), accumulating a negative mark of 2.4% so far this year, the agency said.

INDEC also reported that Gross Fixed Capital Formation, understood as a way to measure investments, fell 8.3% in a year-on-year comparison, as industrial activity dropped 8% regarding the third.

The agency reported that during the third quarter of the year, industrial activity fell by 8% compared to the same period of 2015, while construction fell by 12.9% and commerce by 5%.

The Finance Ministry has said that the year will end with an economic downturn of 2.4%, a goal labeled as optimistic by private pundits.

Outgoing Finance Minister Alfonso Prat-Gay foresees a rise of 3.5% next year, boosted by the agricultural sector, exports and public works.

The Argentine government has said on a number of occasions that the growth rate of 3.5% is “real” although “for some it is conservative.” From the private sector, all estimates are cautiously positive although they range from almost zero to a 5% increase.

Categories: Economy, Argentina.

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  • Marti Llazo

    Syria has promised to take in 15000 Argentine refugees.

    Dec 31st, 2016 - 05:23 pm +5
  • ElaineB

    You know, all this 'post a picture to prove it' like they are some hostage is ridiculous. It really doesn't matter where people come from UNLESS they are pretending otherwise. And even if that is the case, this is just a message board. If you don't believe a person is genuinely living in Argentina then adjust your thoughts accordingly. Some people lose all reason and try tracking people down in real life - like bat-shit mad ChrisR. But for sane people, just let it roll by. It is only a message board.

    Jan 01st, 2017 - 03:02 pm +5
  • Troy Tempest

    Elaine

    “t really doesn't matter where people come from UNLESS they are pretending otherwise.”

    You should let DT know there are frequent examples of double standards from such personas.

    Our friend “voice” tries to give the impression that he speaks as a Scotsman and represents their point of view.
    At the same time, he never claims to be British or Scottish and will not state his nationality when asked.

    He is the same person who threatened me with “I will place you”, and demands personal information in order to hone his ad hominem attacks against others.

    It is an ugly world on this message board.

    As “voice” has alluded to, and demonstrated, he is a professional Troll who logs links to posts he thinks he can use against others.

    Be aware there are those who are also on here to deflect legitimate discussion, and sow disinformation and division between groups.

    I use “voice's” use of his faux Scots persona to create animosity between English and legitimate Scots posters.

    Jan 02nd, 2017 - 12:56 am +4
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