BUENOS AIRES (Dow Jones)–Argentina’s shopping center sales grew sharply again in September due to soaring inflation and a consumer spending boom.
Shopping center sales were up 22% on the year and 8.6% on the month in seasonally-adjusted terms, the national statistics agency Indec reported Tuesday.
Sales at 34 shopping centers in the capital city and neighboring urban areas in Buenos Aires province totaled 1.18 billion pesos ($281 billion).
Shopping centers are benefiting from an economy that is expected to grow more than 8% this year. Unemployment is close to multiyear lows, while consumer confidence is near historical highs.
In addition, sales figures reflect an inflation rate that most private-sector economists say is above 20%.
-By Shane Romig, Dow Jones Newswires; 54-11-4103-6738; shane.romig@dowjones.com
-Alberto Messer contributed to this article.
Source: /online.wsj.com