Argentina Current Account Swings to Surplus in Q3 đ
Argentina recorded a current account surplus of $1.401 billion in Q3 2024, a sharp reversal from the $6.05 billion deficit in the same period last year, driven by a significant improvement in the goods account.
The article indicates that Argentina's current account shifted to a surplus, primarily driven by a substantial improvement in the goods account. This suggests a strengthening of Argentina's trade position, which could have a moderately positive impact on the investment portfolio, particularly the positions in the S&P 500, European market, and emerging markets, which have exposure to Argentina's economy.
Argentina Consumer Confidence at 13-Month High đ
Argentina's consumer confidence indicator rose to 46 in December 2024, its highest level since November 2023, with optimism improving across all three subindexes.
The rise in Argentina's consumer confidence indicator suggests improved economic sentiment and increased consumer spending, which could have a moderate positive impact on the investment portfolio. The portfolio's exposure to the Argentine market, as well as sectors like consumer discretionary and durable goods, may benefit from this trend.
Argentina Trade Posts 12th Consecutive Surplus đ
Argentina posted a trade surplus of $1.234 billion in November 2024, a sharp turnaround from the $559 million deficit a year earlier, driven by a 31.6% surge in exports led by agricultural products and raw materials, while imports declined 4.3%.
The strong trade surplus in Argentina is a positive development that could have a moderate impact on the investment portfolio. The surge in exports, particularly of agricultural products and raw materials, suggests improved economic conditions and demand for Argentina's exports. This could benefit the portfolio's exposure to the S&P 500, European market, and emerging markets, which collectively make up a significant portion of the investments. However, the impact is likely to be moderate as Argentina's weight in the overall portfolio is relatively small.
Argentina Jobless Rate Falls to 6.9% in Q3 đ
Argentina's unemployment rate fell to 6.9% in Q3 2024, its lowest level since Q4 2023, while the employment rate increased and the labor force participation rate edged down.
The decline in Argentina's unemployment rate and the increase in the employment rate suggest an improving labor market, which could have a moderately positive impact on the investment portfolio. However, the slight decrease in the labor force participation rate indicates some potential underlying economic challenges that may temper the overall positive outlook.
Argentina GDP Shrinks for Sixth Straight Quarter âšī¸
Argentina's economy contracted by 2.1% year-on-year in Q3 2024, better than expected, but marked the sixth consecutive quarter of decline, driven by a slowdown in the agriculture sector, while other sectors like manufacturing, construction, and financial intermediation saw eased declines.
The contraction in Argentina's economy, while better than expected, is still a negative development. However, the easing of declines in key sectors like manufacturing, construction, and financial intermediation suggests some stabilization in the economy. Given the diversified nature of the investment portfolio, the overall impact is expected to be moderate, as the exposure to Argentina's market is relatively small compared to the broader global exposure.
Argentina Economic Activity Contracts Less Than Expected âšī¸
Argentina's economic activity estimator saw a smaller-than-expected 0.7% year-on-year decline in October 2024, with mixed performance across sectors.
The article provides a mixed picture of Argentina's economic activity, with some sectors showing improvement while others continued to contract. Given the relatively small decline in the overall economic activity estimator and the mixed sectoral performance, the impact on the provided investment portfolio is likely to be neutral. The portfolio's exposure to Argentina or Latin American markets is not specified, so the overall impact is limited.