Argentina - Pato la Taifa mwaka Kiwango cha Ukuaji

The economy of Argentina expanded 0.6 percent year-on-year in the second quarter of 2019, following a 5.8 contraction in the previous period. It was the first annual growth rate since Q1 2018, driven by agriculture, livestock & forestry (46% vs 8.2% in Q1); mining & quarrying (1.1% vs -0.9%); and transport & communications (0.9% vs -4.4%). Also, output shrank less in manufacturing (-6.7% vs -10.9%); construction (-5.6% vs -6.2%); wholesale & retail trade (-9.3% vs -12.7%); hotels & restaurants (-2.1% vs -2.8%); public administration & defense (-0.1% vs -0.6%); and other services (-1.7% vs -2.1%). On a quarterly basis, the GDP contracted 0.3 percent, after stalling in Q1. The modest economic growth comes ahead presidential elections in October 27th, after a defeat for President Macri in the primary vote, which led to a further rise in inflation and a sharp decline in the currency.

The economy of Argentina shrank 6.2 percent year-on-year in the fourth quarter of 2018, following an upwardly revised 3.7 decline in the previous period. It was the biggest contraction since the second quarter of 2009, as output shrank for finance intermediation (-3.7 percent vs 5.7 percent in Q3); real estate (-1 percent vs 0.8 percent) and utilities (-2.7 percent vs 0.9 percent). Also output contracted further for manufacturing (-11.9 percent vs -7.5 percent); construction (-9.5 percent vs -1.0 percent); wholesale & retail trade (-13.5 percent vs -9.2 percent); mining (-2.4 percent vs -0.1 percent); hotels & restaurants (-3 percent vs -2.6 percent); transport & communication (-4.9 percent vs -3.6 percent) and public administration & defence (-0.9 percent vs -0.7 percent). On a quarterly basis, the GDP fell 1.2 percent after a downwardly revised 0.5 percent contraction in the prior quarter. In 2018, the economy contracted 2.5 percent compared to a 2.7 percent growth in 2017.