Consulting firms surveyed by Argentina's central bank lowered their projections for economic growth once more and put September inflation at 1.9%, according to Infobae. The revised estimates come from the panel of forecasters the BCRA regularly polls for its market expectations report.
The cut to the growth outlook was echoed in separate coverage, with La Voz del Interior describing a sharp downward revision to the market's GDP projection. Página|12 framed the same round of estimates under the heading of higher inflation and unemployment.
The survey also covers exchange-rate expectations. Perfil reported that the panel's projections point to the dollar reaching about 1,630 pesos in December, while warning that the currency would likely remain weak in order to preserve competitiveness. El Cronista noted that more than 44 analysts in the City took part in the REM survey, which gathers forecasts for inflation and the dollar's year-end level.
The figures are projections from private economists, not official data, and the panel has adjusted its growth estimates repeatedly. The material reviewed did not include the specific growth number the consultants now expect, nor their revised unemployment forecasts.
Investors and analysts will watch whether the September inflation reading and upcoming official indicators align with the panel's expectations, and whether the next REM round brings another revision to the growth outlook.
