The economy of Argentina shrank 5.8 percent year-on-year in the first quarter of 2019, following a downwardly revised 6.1 decline in the previous period. It was the second biggest contraction since the second quarter of 2009, as output shrank for manufacturing (-10.8 percent vs -11.9 percent), transport & communication (-4.0 percent vs -4.9 percent), utilities (-5.2 percent vs -2.7 percent), and financial services (-10.3 percent vs -3.7 percent). In contrast, primary activity jumped 7.7 percent after a 15.3 percent decline. On a quarterly basis, the GDP fell 0.2 percent after an upwardly revised 1.3 percent contraction in the prior quarter. GDP Growth Rate in Argentina averaged 0.55 percent from 1993 until 2019, reaching an all time high of 5 percent in the third quarter of 2004 and a record low of -5.70 percent in the fourth quarter of 2001.
GDP Growth Rate in Argentina is expected to be -0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Argentina to stand at 0.60 in 12 months time. In the long-term, the Argentina GDP Growth Rate is projected to trend around 0.80 percent in 2020, according to our econometric models.