The economy of Argentina shrank 1.7 percent year-on-year in the third quarter of 2019, after stalling in the previous period. Output contracted further in financial intermediation (-14.2 percent vs -13.5 percent in Q2); fishing (-17.1 percent vs -3.3 percent) and other social & personal services (-2.4 percent vs -1.4 percent). Additionally, growth slowed in transport & communication (0.2 percent vs 1.1 percent); agriculture (12.2 percent vs 42.1 percent) and domestic services (4.9 percent vs 5.5 percent). Meanwhile, output shrank less in trade (-5.5 percent vs -9.6 percent); manufacturing (-4.7 percent vs -7.3 percent); construction (-4.8 percent vs -5 percent); and utilities (-2.4 percent vs -6.7 percent). Also, growth accelerated in social services & health (0.4 percent vs 0.1 percent); public administration services (0.5 percent vs 0.3 percent); education (0.9 percent vs 0.6 percent) and mining (3 percent vs 1.2 percent). On a quarterly basis, the GDP expanded 0.9 percent. GDP Annual Growth Rate in Argentina averaged 2.25 percent from 1994 until 2019, reaching an all time high of 16.20 percent in the second quarter of 2010 and a record low of -16.30 percent in the first quarter of 2002. source: Instituto Nacional de Estadística y Censos (INDEC)
GDP Annual Growth Rate in Argentina is expected to be -2.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Argentina to stand at -1.80 in 12 months time. In the long-term, the Argentina GDP Annual Growth Rate is projected to trend around 1.50 percent in 2020, according to our econometric models.