“The recovery in activity is largely associated with the improvement in domestic demand. In this sense, the second quarter data from the Permanent Household Survey, EPH, already showed a recovery in employment in the context of the pandemic: the employed population was similar to that of the last quarter of 2019, with a growth even in registered wage earners “, assured the government.
The national administration also highlighted that since December 2020 the salaries of registered workers accumulated an increase of 35.1% and that it was even higher than the 32.2% rise in prices of the same period. “It results in a rise in real terms of 2.1% of the registered salary”, highlighted the management of Alberto Fernández.
Regarding the sales of supermarkets and wholesale self-services, there were increases in real terms of 4.5% and 2.4%, respectively, in the interannual comparison. In the accumulated of the first eight months of the year, the growth of supermarket sales is in line with that of the same period of 2020 (which had risen 1.5%, even despite the pandemic), and wholesale self-services accumulate a 5.3% increase compared to the same previous period (when they had also grown 7.3% in the interannual variation).
“The improvement in consumption is also observed in the statistics of shopping centers (shopping malls), whose sales continue to be below the months prior to the pandemic, but the pace of recovery of shops has accelerated in recent months”, the Government reported and stressed that in August sales at constant prices were equivalent to 73.4% of those registered in the same month of 2019.
Secondly, The trade balance showed a surplus of US $ 12,322 million in the first nine months of the year, the highest value since 2009.
Exports grew 59.8% in September compared to the same month of 2020. So far this year they totaled US $ 58,276 million, with a positive inter-annual variation of 38.2 percent. “Measured in quantities, sales abroad reached the highest level since mid-2011,” the Government stressed.
“Meanwhile, the evolution of imports also confirms the recovery of consumption and production,” they completed in a report. Purchases of consumer goods from abroad increased by around 20% year-on-year in September, while imports of intermediate goods (associated with the increase in production) did so by over 50% year-on-year.
“In this sense, in the first nine months of the year the imported quantities of consumer goods rose 32.3% compared to the same period of 2020 and were 18.1% above the prepandemic values. In addition, purchases abroad of intermediate goods increased 41.8% in quantities compared to 2020 and register the highest levels in the series “, closed the current economic outlook.
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