The country’s GDP fell by 0.9% in March compared with the same month of last year, and also compared to February, whilst inflation in April reached 1.8%, according to data released today by statistics office Indec.
The information was announced this afternoon by Economy Minister Axel Kicillof. The negative growth can be partly explained by a decrease in industrial and construction activity, both of which fell by 6%. In contrast, the agricultural sector increased its production from 92.5m tonnes last year to 96m tonnes this year.
In terms of consumption, Indec figures reveal that it increased by 35.4% in March, in comparison with the same month of last year, and the trade balance reported a surplus of US$41m, well below the US$811m posted in March 2013.
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