MercoPress. South Atlantic News Agency
Argentine economy contracts 0.2% in first quarter; 2013 growth down to 2.9%
Argentina's economy contracted during the first quarter of the year as high inflation and weak exports to top trade partner Brazil took a toll. During the first three months of the year, GDP fell by 0.2% on the year and contracted 0.8% on the quarter, the national statistics agency Indec reported Monday. Read full article
Comments
Disclaimer & comment rules40% inflation and negative growth.
Jun 24th, 2014 - 09:03 am - Link - Report abuse 0Stagflation!
As for the article's claim that Argentina is the second largest economy in South America...... the second largest economy in South America is currently growing 6.4%.
That's Colombia for those that aren't up to date.
After they restate the GDP figures for the last 8 years and devalue again Argentina might be #4 in SA.
Jun 24th, 2014 - 11:34 am - Link - Report abuse 0They've been in recession a lot longer than what this indicates. They can only skew the numbers so much now since the IMF is watching.
The IMF said they were “on the right track” which is polispeak for “you have a long way to go” on the stats.
“As for the article's claim that Argentina is the second largest economy in South America...... the second largest economy in South America is currently growing 6.4%.
Jun 24th, 2014 - 12:43 pm - Link - Report abuse 0That's Colombia for those that aren't up to date”
Not only that, according the fixed (not to say fake) Currency exchange rate, Argentina would be the 3rd economy of the continent. But if you consider the market value of the Argentinian Peso, it might be that the “small” chilean economy is also bigger, meanwhile.
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