According to the INDEC, economic activity grew 7.6% in November

January 20, 2012  |   Filed under: Economics  |   Posted by:

Buenos Aires, January 20, 2012
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The National Institute of Statistics and Census (INDEC) reported that the Gross Domestic Product (GDP) grew 7.6% in November 2011 reaching in 11 months an expansion of 9.1%.

With respect to October GDP grew 0.8% according to the Monthly Economic Activity Estimator (EMAE), an indicator that is released each month as advancement of the GDP evolution that is disclosed on a quarterly basis.

These results demonstrate a slowing economy, something as predicted by many analysts given the international crisis and this 7.6% is the lowest increase of the year.

The industry in November grew by only 3.5% in a year, which contrasts sharply with the average at the beginning of 2011, which exceeded 20%.

The low numbers appear after the European crisis hit Brazil, the main destination of car exports.

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