Argentina

Economic Activity - June 2002

The numbers in detail

The Ministry of the Economy (Ministerio de Economía) reports that:

The preliminary estimate for Gross Domestic Product (GDP) in the second quarter of 2002 shows that activity dropped 13.6% compared to the same quarter last year. 

In particular, output in the goods producing sectors during the second quarter of 2002 registered a negative variation of 13.4%, which was determined principally by a drop in level of manufacturing industry (-16.5%) and construction sector activity (-41.2%).

The service producing sector registered an annual decline of 11.6%.

According to the preliminary estimate, the macroeconomic evolution in the second quarter was marked by a negative variation in global supply, as measured in 1993 prices, of 17.9 % compared to the same quarter last year.  This decline in activity was driven by the 13.6% drop in GDP and a 56.7% decline in imports of real goods and services.

Within global demand gross fixed investment dropped 43.0% and exports of real goods and services decline 0.8%.  Private consumption contracted 16.7 %, while public consumption registered a 4.2% downturn in activity.

Forecasts: This indicator is covered in the LatinFocus Consensus Forecast.  For 5-year projections, including quarterly forecasts for the next two years, please click here