Argentina Jan-May economy grows 8.2% - INDEC

20 July 2007 02:32  [Source: ICIS news]

HOUSTON (ICIS news)--The economy of Argentina grew 8.2% in the first five months of 2007 compared with the same period last year, INDEC, the national institute of statistics and census, said on Thursday.

The data was published in the monthly estimator of economic activity (EMAE) and showed a positive variation of 8.5% in May compared with the same month last year.

The May figure reflected a growth of 1.4% relative to the previous month, the largest in the last 12 months, the data showed. 

The 8.2% growth was achieved despite the deepening of the natural gas and electricity shortages that started in May and affected the industrial sector.

The EMAE is a monthly indicator which anticipates performance of the gross domestic product (GDP) – data which INDEC distributes every quarter.

By: George Martin
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