The rate of economic contraction eased in the first quarter to minus 0.9% year-on-year, following the first growth in private consumption since 2010, while exports accelerated strongly (+5.4% on the year).
Euler Hermes expects the positive trend to continue as domestic activity starts to show visible signs of a pick-up, according to the report.
The company’s analysis expects for the full year an economic stabilization after six years of recession, followed by a moderate growth (0.8%) in 2015.
The report also analyzes prospects of a risk of default in Argentina and points out improvements of China’s economy. Click for the full report:
