December 21, 2014
Economic activity drops 0.9% in March
Economic activity fell 0.9 percent in March compared to the same month last year, the National Statistics and Census Institute (INDEC) revealed today.
According to the Monthly Economic Estimate released by INDEC, good and service production also fell 0.9% compared to February 2014.
This way, economic growth during the first three months of 2014 reaches 0.6%.
The main sectors responsible for the decrease in activity were industrial production, which retracted 6% compared to March 2013 and accumulates a 3.3% drop in the first three months of 2014, and construction, which fell 6% compared to 2013 and accumulates a 2.6% loss during the first three months of 2014.
Meanwhile, trade balance in March left a US$41 million surplus, a small figure compared to the US$811M gained during the same period of 2013.