The EMAE economic activity index, which measures most of the components of GDP, inched up 0.3% in September from August and 9% in the last twelve months to September, according to the INDEC national statistics agency said.
President Cristina Fernandez made the announcement during a ceremony in the province of Buenos Aires.
Argentina is expanding at one of the region’s fastest rates thanks to lucrative grains exports, robust consumer spending and industrial output led by car sales to the country’s top trade partner, Brazil.
Although next year’s budget bill forecasts 8.3% growth this year and a 5.1% expansion in 2012, some economists say global financial troubles and softer demand from Brazil will rein in Argentina’s galloping growth in coming months.
In a data revision, Indec said August’s EMAE rose 0.7% versus July, compared with the 0.6% increase reported previously.
Source: MercoPress