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Argentine economy grows 8.4% in April
April's leap is also linked to the fact that the same month of 2006 was weak with respect to economic activity, rising 6.4 per cent.
Services sector was the driving force behind economy, together with crop performance. Reactivation of financial sector, transport, communications, trade and tourism stand out. However, industry loses participation when having to explain growth data.
Within manufacturing area, car companies lead the list comfortably, improving almost 40 per cent with respect to 2006. The remaining areas also rally, though more slowly.
Even some highly-dynamic sectors during the last years now reflect a virtual stagnation, like paper, cardboard or plastic industries.
It's clear that sectors sustaining economic expansion are different from those allowing rebound after 2002 crisis. In this sense, services clearly beat industrial sector, which keeps on growing, though at rates hovering around 6.5 per cent.
Today, May trade result will be disclosed. An average $1.25-billion surplus is estimated, 7.7 per cent below the same period of 2006.
One piece of information causing worry about future economy development is inflation leap. This phenomenon has an impact on some sectors, like construction, which has gone through a sharp cost rise, thus reducing profitability margin.
Also lack of energy generates problems in companies, as proved by weak development of industrial production in May.
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