Said data turned out to be better than expected by analysts. The specialists consulted by Reuters estimated an improvement of 1.5% for the GDP of the period between last January and March.
On the other hand, the INDEC pointed out that seasonally adjusted GDP showed an improvement of 0.7% compared to the fourth quarter of last year. In 2022, the Argentine GDP advanced a corrected 5%.
The sectors that grew the most
On the side of the activity sectorsthe increments YoY in Exploitation of mines and quarries, (11.9% yoy), Hotels and restaurants (8.5% ia) and Private households with domestic service (8.2% yoy).
For their part, there were only three sectors that fell in year-on-year terms. Agriculture, livestock, hunting and forestry tops the list with a decline of 11.9% year-on-year, followed by financial intermediation which fell 3.4%. Finally, position Taxes net of subsidies which fell 0.3%.
Investment in the first quarter of 2023
The gross fixed capital formationaccording to preliminary estimates provided by INDEC, experienced in the first quarter of 2023 a decrease of 0.6% With respect to same period of the previous year.
This reduction is explained by the 0.8% drop of investment in buildingsto the 17.2% increase of other constructionsto the 6% drop in machinery and equipment and to growth of 18.7% in team of transport.
Source: Ambito
