Macroeconomic Forecast Argentina

BMI View: Argentina's seasonally adjusted economic activity index continues to post strong growth, rising 8.4% y-o-y in September and reinforcing our forecast for real GDP growth to reach an impressive 8.0% in 2010. However, with the three-month moving average of the year-on-year growth rate (a sign of longer-term trend) starting to tick down, falling to 8.6% y-o-y in September from 9.5% in August, we are holding to our more moderate forecast for real GDP growth of 4.1% in 2011.

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