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March Industrial Production, Construction Activity Due At 2000BST

ARGENTINA
  • Analysts expect monthly CPI inflation to fall to 9% in April, from 11% in March, according to the latest BCRA survey, released yesterday. Inflation is seen ending the year at 161.3% y/y, down 28pp from the previous survey, while core inflation expectations for year-end fell by 33.9pp to 145.1% y/y. Analysts’ 2024 GDP growth forecast was unchanged at -3.5%.
  • Data wise, March industrial production and construction activity figures will be released at 2000BST(1500ET), with consensus for IP to fall by 13.5% y/y, vs. -9.9% prior. Further ahead, the April CPI data will be released next Tuesday.
    • March Industrial Production YoY, est. -13.5%, prior -9.9%
    • March Construction Activity YoY, prior -24.6%
  • In other news, the country’s electricity generation companies plan to reject a government offer to pay off their debts with dollar-denominated bonds that expire in 2038, according to La Nacion. The proposal offers to cancel debts of about ARS 600bn for Dec. 2023 and Jan. 2024.

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