Saturday, January 24, 2009
The economy grew 7.1% in 2008, the lowest growth rate in the past six years, according to a preliminary estimate from the National Institute of Statistics and Census (INDEC).
The monthly estimates of economic activity (EMAE), used to measure changes in the Gross Domestic Product (GDP) had no change in November in respect of October but grew 4.6% in the comparison.
Preliminary data for December, meanwhile, showed a growth of 0.7% compared with November and 7.4% over the same month in 2007.
The measurement showed a moderation in the pace of expansion of the economy that analysts have attributed to a slowdown in domestic consumption and industry.
For its part, the industrial production grew 2.2% in December compared with November and 2.3% over December 2007.
For all of 2008, the Monthly Industrial Estimator (EMI) showed a positive variation of 4.9% from 2007.
Labels: Business
