December 27, 2013 / 7:27 PM / in 4 years

UPDATE 1-Argentina says Oct economic activity up 3.2 pct yr/yr

BUENOS AIRES, Dec 27 (Reuters) - Argentina’s economic activity grew 3.2 percent in October compared with the same month last year, the government said on Friday, a result that came in a bit below market expectations.

Analysts polled by Reuters had expected a 3.5 percent rise in the monthly EMAE economic activity index, which is a close proxy for gross domestic product.

The INDEC statistics office also said in a statement that October economic activity was 0.3 percent lower versus September.

Argentina’s growth slipped in the third quarter from the previous quarter, the government reported a week earlier along with other indicators suggesting that Latin America’s third-largest economy may be slowing.

Gross domestic product in the key grains exporter expanded by 5.5 percent in the third quarter versus the same 2012 period but shrank 0.2 percent compared with the second quarter of this year, the INDEC said on Dec. 20.

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