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Macroeconomic outlook report: Argentina

Second quarter of 2019

During the second quarter of 2019, the Argentine economy began to grow, registering a year-over-year rate of 0.60%, which was 6.37 p.p. faster than in the previous quarter. This was due to the behavior of external demand, after the acceleration of exports. In the labor market, the unemployment rate rose 0.50 p.p. from the previous quarter to 10.60%, while the year-over-year growth rate of employment rose 0.33 p.p. from the previous quarter to -1.46%. In terms of prices, inflation stood at 55.90%, following an acceleration of 4.13 p.p. from the previous quarter. Finally, the Argentine peso depreciated to 43.99 pesos per dollar.

Macroeconomic overview

  • During 2Q19, Argentina began to grow, registering a 0.60% increase, although this was 6.37 p.p. higher than the previous quarter. This was due to the behavior of external demand, after the acceleration of exports.
  • In the labor market, the unemployment rate rose by 0.50 p.p. from the previous quarter to 10.60%. The year-on-year growth rate of employment accelerated by 0.33 p.p. from the previous quarter to -1.46%.
  • In 2Q19, the Argentine peso devalued against the dollar, reaching an exchange rate of 43.99 pesos per dollar, 4.93 pesos per dollar more than in 1Q19.
  • During the second quarter of the year, the variation in the price index stood at 55.90%, after an acceleration of 4.13 p.p. with respect to the previous quarter.

For more information, click here to access the executive document in pdf (only avalaible in Spanish).

© GMS Management Solutions, S.L., 2019. All rights reserved. The information contained on this publication is of a general nature and does not constitute a professional opinion or an advisory service. The data used in this publication come from public sources. GMS Management Solutions, SL assumes no liability for the veracity or accuracy of such data.