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Economy & Business - May 2005

ARGENTINA: On the skids?

Month-on-month growth in industrial output fell by 0.4% in April, unseasonally adjusted. This is a poor performance, given that Holy Week fell in March this year. In that month there was a 0.3% month-on-month growth in industrial output. The government, however, prefers to look at the year-on-year changes which are still impressive. In April 2005 industrial output was 10% above what it was in April 2004 (not as impressive when Holy Week is factored in). In the first four months industrial output was 7% ahead of the first four months of 2004.

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