The economy of Argentina shrank 6.2 percent year-on-year in the fourth quarter of 2018, following an upwardly revised 3.7 decline in the previous period. It was the biggest contraction since the second quarter of 2009, as output shrank for finance intermediation (-3.7 percent vs 5.7 percent in Q3); real estate (-1 percent vs 0.8 percent) and utilities (-2.7 percent vs 0.9 percent). Also output contracted further for manufacturing (-11.9 percent vs -7.5 percent); construction (-9.5 percent vs -1.0 percent); wholesale & retail trade (-13.5 percent vs -9.2 percent); mining (-2.4 percent vs -0.1 percent); hotels & restaurants (-3 percent vs -2.6 percent); transport & communication (-4.9 percent vs -3.6 percent) and public administration & defence (-0.9 percent vs -0.7 percent). On a quarterly basis, the GDP fell 1.2 percent after a downwardly revised 0.5 percent contraction in the prior quarter. In 2018, the economy contracted 2.5 percent compared to a 2.7 percent growth in 2017. GDP Annual Growth Rate in Argentina averaged 2.54 percent from 1994 until 2018, reaching an all time high of 16.20 percent in the second quarter of 2010 and a record low of -16.30 percent in the first quarter of 2002.
GDP Annual Growth Rate in Argentina is expected to be -2.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Argentina to stand at 0.60 in 12 months time. In the long-term, the Argentina GDP Annual Growth Rate is projected to trend around 2.50 percent in 2020, according to our econometric models.