GDP improved 3.9% between July and September, compared to the immediately previous three months. Investment was the component of demand that increased the most.
The Gross Domestic Product (GDP) rose 3.9% in the third quarter, compared to the previous three months. It was the first improvement of the Government of Javier Milei, despite the fact that in year-on-year terms the numbers continued to be negative.
According to a report published this Monday by INDEC, the Argentine economy showed signs of recovery between July and September 2024, after hitting its deepest floor since the 2001/2002 recession. Among the components of aggregate demand, a 12% increase in investment and 4.6% increase in private consumption regarding the April-June period.
Meanwhile, in terms of foreign trade, exports showed a rise of 3.2% quarter-on-quarter, but imports jumped by a greater proportion, 9.1%.
However, Compared to the third quarter of 2023, GDP contracted 2.1%which was largely generated by a 16.8% collapse in investment and a 3.2% decline in consumption.
At the sector level, the most influential year-on-year losses were those of Manufacturing Industry (5.9%), Commerce (-6.1%) and Construction (-14.9%). At the other extreme, the increases in Agriculture (+13.2%), Mining and Quarrying (+6.6%) and Restaurants and Hotels (+9%) stood out.
In the absence of a single more piece of information to know, The economy accumulated a drop of 3% between January and September of this year.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
