Argentine Economy Contracts 0.8% in Q3


Argentina’s GDP shrank 0.8 percent in the third quarter of 2014 compared to the same period a year earlier hurt by fall in exports, investments and private consumption.

Year-on-year, exports fell by 8.4 percent and imports dropped by 15.2 percent, preliminary estimates showed. Gross fixed capital formation decreased by 4.7 percent and private consumption shrank by 1.4 percent. In contrast, government expenditure rose 1 percent. 

On the production side, financial activities rose 10.6 percent; agricultural production advanced 4.1 percent and activities in hotels and restaurants increased 0.8 percent. The mining sector expanded by 1.8 percent and construction by 0.6 percent. Meanwhile, wholesale and retail trade droped by 4 percent and manufacturing by 2.4 percent.

On a quarter-on-quarter seasonally adjusted basis, the economy advanced 0.5 percent. 

Carolina Cunha | carolina.cunha@tradingeconomics.com
12/29/2014 10:46:16 PM