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Argentine economy expands 5.5% in January but activity index is down 0.4% over December

Tuesday, March 27th 2012 - 03:31 UTC
Full article 15 comments

The Argentine economy grew 5.5% in January compared to the same month last year, according to a release from the Indec national statistics bureau. Official data also reported that the monthly economic activity index (EMAE) fell 0.4% against the previous month. Read full article

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  • Britninja

    And in other official absolutely-honest news from Argentinian sources: Timerman is a member of MENSA and KFC's face is 100% natural human.

    Mar 27th, 2012 - 03:50 am - Link - Report abuse 0
  • Retroqqq

    very good growth

    the growth in EU is almost zero. and USA 1% or 2%.

    Mar 27th, 2012 - 07:43 am - Link - Report abuse 0
  • GreekYoghurt

    “The Argentine economy grew 5.5% in January compared to the same month last year, according to a release from the INDEC national statistics bureau.”

    FFFFFFFFFFWFWWWFFFFFFFFFTTTTFTFFFFFFF WHAT?

    Why are folks reporting figures from serial institutional prevaricators INDEC whose figures haven't been used by any serious journal in years?

    “The result was slightly lower than the 5.8% median estimate of more than 50 banks, economic research firms and universities surveyed by the Central Bank of Argentina.” WHHHWHWHWHAHAHAAT?

    NOW THEY'RE QUOTING THE CENTRAL BANK OF ARGENTINA!??

    can folks stick to statistical data from unbiased sources next time?

    Mar 27th, 2012 - 08:54 am - Link - Report abuse 0
  • The Cestrian

    INDEC - LOL. Thats all.

    Mar 27th, 2012 - 10:54 am - Link - Report abuse 0
  • yankeeboy

    Funny that with such huge growth it is not shown in the tax collections. They have been and are running a HUGE deficit, I wonder why? I can't imagine these figures would be incorrect.
    hahaha

    Mar 27th, 2012 - 12:21 pm - Link - Report abuse 0
  • GreekYoghurt

    @5 They'd be incorrect because the figures INDEC produces are complete bollox.

    Mar 27th, 2012 - 01:28 pm - Link - Report abuse 0
  • DJ56

    Inflation .... its all a huge bubble.

    Mar 27th, 2012 - 03:05 pm - Link - Report abuse 0
  • Retroqqq

    its not a bubble if the debt is getting smaller.

    39% public debt and going down

    36% external debt only

    http://www.usdebtclock.org/world-debt-clock.html

    Mar 27th, 2012 - 08:13 pm - Link - Report abuse 0
  • GreekYoghurt

    @8 Are those more INDEC statistics? You know INDEC isn't trusted by anyone in the world, not even the KFC government?

    Mar 27th, 2012 - 09:09 pm - Link - Report abuse 0
  • Truth_Telling_Troll

    Look, say what you want about CFK, the one thing no one can take away from the Kirchners is that they did take Argentina from debt of 140% of GDP to 40%. By the “hardball restructuring” of 70 billion, by paying off the World Bank/IMF to the tune of 20 billion total, by not taking any debt (not that they can in practice, but even if they could have I actually do believe they would have avoided it because it was a pillar of their campaign), etc.

    Say everything else about their economic policy. Unless people here are going to argue that “high foreign debt is good”.

    Mar 27th, 2012 - 09:57 pm - Link - Report abuse 0
  • GreekYoghurt

    @10 When you say “hardball restructuring” you mean simple theft. Argentina defaulted on U$81 billion, failed to recognise the u$20 Billion in interest and replaced their bonds with new ones worth U$0.35 to every dollar. Now in the USA they're refusing to pay again, on bonds sold through the SEC.

    It's normal for them, they sign up for something, then they renege on that.

    Mar 27th, 2012 - 10:17 pm - Link - Report abuse 0
  • Truth_Telling_Troll

    Theft? So bankrupcy is theft? Interesting.

    Sorry, try again. Wrong answer.

    Mar 27th, 2012 - 10:50 pm - Link - Report abuse 0
  • GreekYoghurt

    @12 I guess you never heard of a debtors prison, debt-slavery or in the middle east where not paying your debts gets you prison time.

    Accepting debt under the auspices that you're not going to pay it back in full is fraud, and as such theft.

    Get over it, the ICSID and USA didn't.

    Mar 27th, 2012 - 11:25 pm - Link - Report abuse 0
  • yankeeboy

    12. “hard ball restructuring” are you kidding me!? They unilaterally reduced the value of the bonds with no negotiations. Why do you think Argentina is a financial pariah? Why do you think your reserves are in danger of being confiscated for payment of judgement? If it was a legal restructuring there were not be recognized holdouts.

    Nestor paid off the IMF so they wouldn't audit the books. Do you think your GDP, Inflation, Poverty numbers are accurate? Let's see what happens when Arg is forced by the IMF to audit later this year or risk getting kicked out of the world financial market all together.

    You must be a paid poster to actually write this nonsense and think someone is going to believe it.

    Mar 28th, 2012 - 12:04 am - Link - Report abuse 0
  • GreekYoghurt

    @14 Judging from the brownness of their noses, and incapability of answering direct questions, I'm pretty sure 3 of these folks are Le Camping stooges ordered to type while they sit at the front desk waiting for new guests to check-in.

    They don't get over it. We all do.

    Mar 28th, 2012 - 12:09 am - Link - Report abuse 0

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