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Wednesday, June 29, 2022

Economy expects 4% growth, but admits a slowdown for the rest of the year

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Regarding the components, in the Government they highlight that investment is recovering “strong”, which measured without seasonality grew 3.3% against the fourth quarter of last year, and also private consumption, with a quarterly expansion of 3.2% without seasonality.

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Except for agriculture and fishing, the rest of the sectors showed year-on-year growth in official statistics. The item that contributed the most to the expansion compared to the first quarter of last year is Transport and communicationsfollowed by Manufacturing industry and Commerce. These three items, together, explain around 50% of the growth.

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The other positive data related to the level of activity in the economy, they say in the Government, were the employment figures. A statement from the Ministry of Economy highlighted that the values ​​registered by Indec in the first three months of the year were the best since 2016, when this new data series began with the revised methodology. About these numbers in Economics highlighted three issues if you look at the comparison with the first quarter of last year: an increase of 0.2 percentage points in the activity rate (i.e. more people active in the labor market), a 1.7 percentage point increase in the employment rate (that is, more people finding work) and the stability of unemployment at 7%at the same levels as at the end of 2021 and 3.2 percentage points below last year’s mark.

“It’s a date”, expressed an official when reviewing the numbers published by the official body. According to their estimates, there around 600,000 newly employed between 2021 and 2022.

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The employment data is known just in the same week in which Vice President Cristina Fernández de Kirchner emphasized the importance of creating jobs and pointed to social plans as a non-genuine way of generating work. Mayor Pablo Zurro, from Pehuajó, approached her about a project that she seeks to implement in her municipality to transform the beneficiaries of the plans into district workers, a project that was supported by the vice president on her social networks.

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Source: Ambito

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