INDEC: ‘The economy grew 1.8 percent last November’

January 19, 2013
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Economic activity in November last year had a rise of 1.8 percent and achieved a cumulative improvement of 1.9% in the first eleven months of 2012 compared to the same period of 2011, INDEC reported Friday.

The state agency also noted that its Monthly Economic Activity Estimator (EMAE) experienced an increase of 0.4% over last October in seasonally adjusted measurement.

Thus, it seems increasingly distant official growth target of gross domestic product (GDP) in 2012, revised down by the government last year and established in the order of 3.4%.

The Kirchner administration originally estimated economic expansion of 5.1 in 2012, but then cut those expectations, after stagnation in the mid of last year.