Argentina’s economic output in February grew 5.1 percent compared to the same month last year, according to a report published by the Indec statistics agency yesterday.
It also informed that at the same time the output, removing certain seasonal factors from the equation, was reduced by 0.2 percent compared to January, marking the first decrease in seven months. Nonetheless, it is worth noting the report shows that, at least in the past three years, February has seen a decrease in activity compared to January, and the output in February 2017 decreased 2.2 percent when compared to the same month of the previous year. Overall, the GDP grew 4.7 percent in the first two months of the year.
The sectors that saw the largest inter-annual growth were construction (12.7 percent), retail and repairs (7.9 percent) and financial intermediation (7.4 percent). The others didn’t trail far behind, as 11 out of the other 12 sectors also experienced growth.
The only sector that saw its output decrease was fishing, with 7.3 percent less activity than February 2017. It had a volatile beginning of the year, as it saw a considerable increase in January, with an inter-annual growth rate of 44.9 percent.