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Montevideo, April 22nd 2019 - 14:23 UTC

Argentina's economic activity in October falls 4%, year-on-year

Friday, December 28th 2018 - 09:20 UTC
Full article 16 comments
Drought was a major factor with an impact on the Argentine economy, since it affected agriculture's production volumes and yields. Drought was a major factor with an impact on the Argentine economy, since it affected agriculture's production volumes and yields.
In October some of the sectors that avoided the downfall were fishing (up 28%); agriculture, livestock, forestry, with an average 2.9% increase In October some of the sectors that avoided the downfall were fishing (up 28%); agriculture, livestock, forestry, with an average 2.9% increase

Economic activity in Argentina fell 4.0% in October versus the same month last year, the government said on Thursday, marking the seventh straight month of declines as the country grapples with recession and high inflation.

The official stats office Indec said that October's Monthly Economic Activity Index was up 0.9% compared to September, which means that compared to a year ago retraction reached 1.7% under the impact on the Peso currency run, inflation, collapse of consumption, devaluation and low investment.

Another factor with an impact on the Argentine economy was the drought which affected agriculture's production volumes and yields.
According to Indec, the recessive period took off last April with a year-to-year contraction of 0.3%, which became a downfall in May with a 5% collapse. In July the MEAI was down another 6% annually, in August 1.9% and in September 6.1%.

In October some of the sectors that avoided the downfall were fishing (up 28%); agriculture, livestock, forestry, with an average 2.9% increase; education and social services 1.1%, and public health services, 0.02%.

At the other extreme were wholesale and retail, down 11.2%; manufacturing down 5.3%; construction, 4.7%; hotels and restaurants, 3.4%; transport and communications, 3.3%; mining and quarries, 2.7% and financial services, 2.3%. Likewise, the retraction is also felt in the fiscal sector with tax revenue in October down, 6.2%.

Top Comments

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  • Think

    “Live by agriculture, die by agriculture”..., alright...

    ~25% production drop from the ultra-optimistic June 2018 crop estimate by latifundist Maurizio Blanco Villegas Macri & Co...
    At ~ 25% lower prices...
    https://www.infobae.com/campo/2018/12/24/por-las-ultimas-lluvias-se-perderian-entre-100-y-150-mil-hectareas-de-soja/

    Ps...
    RIP Hector Marcos Timerman...
    Unjustly stolen his dignity and the last years of his life...
    You..., as your father was..., will be justly vindicated in due time...

    Vincit Omnia Veritas

    Dec 30th, 2018 - 12:48 pm +1
  • Enrique Massot

    @DA

    Don Alberto: It is safe to assume you will shielding the Cambiemos Alliance and president Macri no matter what.

    However, this is now a survival matter for Argentina and no longer a partisan issue. These people are steering the country full speed ahead, in the middle of thick fog, right up against a large iceberg.

    ---------------

    Journalist, activist, diplomat and former minister Héctor Timerman died in Buenos Aires on Dec. 30. He was 65.

    Timerman was Foreign Affairs minister from 2010 to 2015 during Cristina Fernandez de Kirchner's presidency and was prosecuted for “treason” after Mauricio Macri was elected in December 2015 in relation to a memorandum of understanding by which Argentina attempted to solve the bombing of the AMIA building in Buenos Aires. Of course, this prosecution for which Timerman was given house arrest is unprecedented, as the MOU with Iran had been vetted by the Argentine Congress.

    Hector Timerman was the son of Jacobo Timerman, founder of the newspaper La Opinion who was detained-disappeared in 1977 by the civic-military dictatorship in government at the time.

    Those responsible for Hector Timerman's cruel, politically-motivated prosecution will respond for it in due time.

    Dec 31st, 2018 - 01:09 am +1
  • Chicureo

    Just to keep Argentina's situation in contex to why it's such an economic mess today:

    https://panampost.com/marcelo-duclos/2018/12/21/argentina-cristina-kirchner-and-cronies-face-real-world-slew-of-criminal-charges/

    Dec 28th, 2018 - 02:18 pm 0
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