Thursday, December 20, 2007

Argentina October 2007 GDP

Argentina's economy expanded more than economists forecast in October, climbing at the fastest pace in five months, led by higher industrial output as consumption and exports rose. The country's economy grew 9.4 percent in October from a year earlier, the National Statistics Institute said today. South America's second-biggest economy expanded 0.3 percent from September.

The economy is heading to its fifth straight year of growth, helped by a strong currency devaluation following the economic crisis in 2002. The impact of the currency correction has strengthened industries, making local goods cheaper in international markets. A drop in unemployment levels to a 15- year low has helped boost consumer's purchasing power, increasing demand for goods.

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