Forex - Argentina Preview: due 22 May - March Proxy GDP Seen Decelerating to 3.3% y/y


 19:16 (GMT) 17 May

  [Economic Data]

Sample Premium Content
Argentina Preview: due 22 May - March Proxy GDP Seen Decelerating to 3.3% y/y (0100-ZTMC-C01)

March proxy GDP is set to decelerate significantly to 0.3%m/m, 3.3%y/y due to negative calendar effects and softer construction, manufacturing production and agriculture. The latter two impacted by the drought.

The negative effects of the drought will continue throughout Q2. For the rest of the year we are not expecting significant improvements as lower real salaries and lower confidence levels will weight down activity. Moreover, growth will face higher comparison bases starting May.

Activity data continues playing no significant role in Central Bank's decisions as the institution has other more urgent problems to focus on, namely persistent inflation and recently the sharp ARS depreciation. As such, we expect no market impact from this print.


CurrenciesCountriesMarket Bulletins

Latest Currency Analysis

Available to subscribers only
Order Now