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The Santa Fe economy grew by just 0.2% in the first quarter of the year in relation to the same period of 2017. This was reported by the Provincial Institute of Statistics and Census (Ipec).

The organism published the Synthetic Indicator of Economic Activity of Santa Fe (Isae), which monitors the evolution of activities and indicators relevant to the economy of the province. According to these figures, there was a growth of 1.7% in March with respect to the same month of last year.

According to the figures presented by Ipec, the accumulated 0.2% annual expansion in the first three months of the year reveals a deceleration with respect to the 2.6% growth that the activity had in the same period of 2017. The drought that hit the farm had its influence, while these numbers do not yet reflect the exchange rate that began to rage since the beginning of April.

Four of the six sequence that make up the Isae presented a positive variation in March. The consumption of diesel for agriculture grew Sixteen, 1%, the patents and transfers of cars grew 12.6% and the loyal collection increased 5.4%. In contrast, energy and gas presented losses of 0.7% and three, eight%, respectively. The employment presented, according to this measurement, a positive interannual variation of 1.4%.

If measured by quarter, the measurement of the provincial statistical agency captured a rise of 1.2% in employment, of 0, eight% in energy, of thirteen, 5% in the consumption of agrogasoil, an increase in thirteen, 9% in the patenting of cars and losses of 1.9% and 1.6% in gas and collection of gross income.

Earlier this month, the Santa Fe Stock Exchange released its provincial activity index, Icasfe, which showed a growth of 0.5%. The center of studies of the stock exchange of the provincial capital explained that it is a level spoiled to the four previous quarters, and that also awakens "certain alerts".

The Icasfe measurement is different from that of the Isae. The report of the Stock Exchange highlighted with a positive sign: sales in supermarkets, 5, eight%, dairy production, 5.7%; cement consumption, 4.2%; patenting of new vehicles, three, 6%; industrial gas use, three, 6%; hydrocarbons for agro-industry and transport, 1.6%; tax resources, 1, three%; industrial electrical energy, 0.4% and slaughter of cattle and pigs, 0.2%. The sequence that presented a negative change in the quarter were the following: jobs (-0, three%), milling of oilseeds (-0.6%), real wages (-2.5%), labor demand ( -6, three%) and sale of agricultural machinery (-6.9%).

The ESC clarified that the measures in this report do not incorporate the impact of the recent acceleration in inflation or the intensification that occurred in the devaluation of the exchange rate during April and May.

On the other hand, he clarified that "although world economic activity improves, the evolution of indicators of the labor market and of some particular sectors has been detrimental".

And noted that "the purchasing power of all registered employees showed a fall during the first quarter, a very rare phenomenon during economic expansions, a situation that could be partially offset by the implementation of the joint agreements."

The item that fell the most was the sale of agricultural machinery.

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