“Beyond the difficulties at the macroeconomic level, some sectors continue to expand. Thus, the production of oil and gas in Vaca Muerta continues to break production records, and construction and commerce remain the main pillars of economic progress,” the report stated.
In any case, Ferreres clarified that after the sharp drop in January, the growth observed during the following months still does not exceed the level of December of last year in the seasonally adjusted measurement.
As for the prospects for the coming months, the consultant is not optimistic. “Inflation continues to eat away at the income and consumption capacity of families, and the Government is unable to apply effective economic policies to deal with rising prices, nor is it managing to accumulate dollar reserves, and the goals agreed upon with the IMF already look difficult to comply with,” he argues.
In the coming months, the Center for Economic Studies warns that “we could see greater restrictions on imports and tensions in terms of energy availability. In this context, it is natural to anticipate that activity will enter a period of stagnation.”
sector by sector
Agriculture and Livestock. For April, agricultural production registered a contraction of 6.5% in the annual comparison, with the agricultural branch showing a drop of 7.1%, and livestock with a decrease of 3.8%. In this way, the first quarter of the year closes with an accumulated fall of 1.5% compared to the same period last year.
Manufacturing industry. In April, the industry showed an annual growth of 4.0%, and a monthly rise of 0.2% in the seasonally adjusted measurement, which seems to fall short after the fall noted in March. The most relevant sectors that drove the increase were Machinery and equipment and Non-metallic minerals, while the most relevant negative results were Basic metals and Food, beverages and tobacco. As a whole, the sector accumulates an advance of 1.2% for the first four months.
Construction. The sector continues to show strong growth figures, remaining the second fastest growing sector in the year-on-year comparison after Mining and Quarrying. Thus, construction recorded an expansion of 10.1% for April compared to the same month last year, and accumulating an advance of 8.9% for the first four months.
Electricity, Gas and Water. After the particular negative result of March, which showed a fall driven by the contraction in electricity generation of hydraulic origin, in April the public services sector registered an advance of 6.0% in the annual comparison, accumulating an expansion of 5, 2% for the first quarter of the year. Regarding electricity, CAMMESA reported for this month an annual growth of 3.0% in generation, showing a strong recovery of hydraulic generation of 46.6% yoy, while thermal generation recorded a fall of 12.2%. ia
Source: Ambito
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