Argentina GDP Growth Stalls in Q2

Argentina’s economy stagnated in the second quarter of 2014 compared to the same period a year earlier. Figures for the first three months of 2014 were revised to a 0.3 percent expansion from a 0.2 percent contraction.

Preliminary estimates showed government consumption rose 4.2 percent year-on-year in the second quarter of 2014. In contrast, imports shrank the most (-10.5 percent), followed by exports (-7.4 percent), investment (-3.7 percent) and private consumption (-2.5 percent).

On the production side, financial activities rose 11.2 percent; agricultural production advanced 4.2 percent and activities in hotels and restaurants increased 3.9 percent. The mining sector expanded 2.3 percent. Meanwhile, wholesale and retail trade recorded the highest drop (-4.2 percent), followed by construction (-2.3 percent) and manufacturing (-2 percent).

On a quarter-on-quarter seasonally adjusted basis, the economy advanced 0.9 percent in the three months to June, following a revised 0.5 percent contraction in the previous two quarters.

Argentina GDP Growth Stalls in Q2

Joana Taborda |
9/25/2014 11:31:44 AM