MercoPress. South Atlantic News Agency
Argentine economic activity expands in September for 25th straight month
Grain exports and strong domestic demand are boosting the economy Argentina's economy grew 7.7% in September from a year earlier, the government said on Friday, beating market expectations and marking the 25th straight month of growth.
The EMAE economic activity index, which measures most of the components of GDP, inched up 0.3% in September from August and 9% in the last twelve months to September, according to the INDEC national statistics agency said.
President Cristina Fernandez made the announcement during a ceremony in the province of Buenos Aires.
Argentina is expanding at one of the region's fastest rates thanks to lucrative grains exports, robust consumer spending and industrial output led by car sales to the country's top trade partner, Brazil.
Although next year's budget bill forecasts 8.3% growth this year and a 5.1% expansion in 2012, some economists say global financial troubles and softer demand from Brazil will rein in Argentina's galloping growth in coming months.
In a data revision, Indec said August's EMAE rose 0.7% versus July, compared with the 0.6% increase reported previously.
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Read all commentsyeah, sure, everything's fine, that's why she's doing now all she is doing and she did not before the elections :) INDEC is all about lies.
Nov 18th, 2011 - 10:51 pm 0Boludo even the oppostion recognize growth of 7% so is it 7% or 9% its a hell of a lot better than anywhere else outside of Beijing
Nov 19th, 2011 - 01:44 am 0How is the economy doing so great in Argentina when store after store is announcing closing, everything for sale, buy one get one free, credit cards are cancelled, 25-50% off for cash, discounts for any purchase over 50 pesos, etc.?
Nov 19th, 2011 - 05:37 am 0Commenting for this story is now closed.
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