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Company Description (as filed with the SEC)
In 2013, economic activity, measured by Gross Domestic Product (“GDP”) improved from the low growth of the previous year. After growing only 1.9% in 2012, GDP growth 5.5% year-over-year in the third quarter of 2013, accumulating an increase of 4.5% in the first nine months of the year compared with the same period of the previous year. The main drivers of this growth, in real terms, were: private consumption, which accumulated growth of 6.1% in the first three quarters of 2013 and investment and public consumption, which recorded growth of 5.6% and 6.1%, respectively in the same period. Exports, meanwhile, rose 2.3%. The rise in GDP was partly offset by imports which grew by 7.8% in the first nine months of 2013. In late March the national statistical office INDEC launched a GDP with 2004 as a new base year. This new series of GDP grew in real terms by 3.0% in 2013 with respect to 2012. The decomposition of this growth has not been published yet. ... More ...