Argentina’s treasury ran yet another primary surplus in August, reaching ARS 899.7 billion, significantly above the deficit of ARS 37.0 billion posted one year earlier. The nominal fiscal balance also ...

President Petro's government recently sent a bill to Congress that targets a fiscal revenue increase of 0.7% of GDP in 2025, while falling to 0.03% of GDP in 2030. The project focuses on three key ...

Retail sales and manufacturing increased at the margin in July. In annual terms, retail sales increased 1.6% YoY in July, broadly in line with our +1.5% call but below the Bloomberg market consensus ...

The trade balance rose to a surplus of USD 2.0 billion in August, well above the USD 1.0 billion deficit registered in the same month of 2023. The surplus was significantly above market expectations ...

The trade deficit in July came in at USD 0.6 billion, widening by USD 0.1 billion with respect to July 2023. The trade deficit was above the Bloomberg market consensus of USD 0.3 billion and our USD 0 ...

Activity expanded sequentially in July, after falling in June. According to the EMAE (official monthly GDP proxy), activity rose by a strong 1.7% MoM/SA in July, from a 0.3% MoM/SA drop in June.

2024/09/24 | Andrés Pérez M. Headline CPI rose by 0.09% in the first half of September, below market expectations of +0.13% according to the Bloomberg median. Core inflation rose by 0.21%, in line ...

GDP fell in 2Q24 by 1.7% yoy, worse than anticipated data from the monthly GDP proxy (EMAE: -1.4% yoy), reflecting the effects of the stabilization program and despite the normalization of the ...

2024/09/13 | Andrés Pérez M. In its September meeting, the Central Bank of Peru (BCRP) cut the policy rate by 25-bps to 5.25%, in line with our call and market expectations (according to Bloomberg).

According to Argentina’s INDEC, consumer prices rose by 4.2% MoM in August, up from 4.0% MoM in the previous month. The print came in slightly above our call (4.0%) and market expectations of 3.9%, ...

A USD 1.1 billion trade surplus was recorded in August, well above the USD 0.5 billion surplus in August last year. The surplus came in below our USD 1.6 billion call. The rolling one-year trade ...

2024/09/03 | Andrés Pérez M. Gross Fixed Investment (GFI) fell by 1.3% yoy in June (vs. market consensus of -1.2%), while the private consumption proxy rose by 0.4% (vs. market consensus of 0.8%).