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March Economic Activity Data Scheduled

ARGENTINA
  • Indec are scheduled to publish economic activity data for March. Economists surveyed by Bloomberg forecast an annual rise of 0.6%, after the 0.2% increase in February. Earlier data showed a 3.4% month-over-month jump in industrial output and a 3.5% gain in construction activity. Consumer confidence improved somewhat in the month, boding well for retail performance. Today’s data is due at 2000BST/1500ET.
  • On Monday night, the government reported that the primary budget deficit deteriorated to 331.4 billion pesos in April. The primary deficit in the last 12 months stands at 2.9% of GDP and the fiscal deficit at 4.8% of GDP, according to the SBS group. (BBG)
  • Separately, Argentina’s farmers need precipitation to arrive within the next three weeks to stand any chance of emerging from a disastrous drought that has shrivelled harvests and slashed agricultural exports
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