UPDATE 1-Argentine economy grew 9.1 pct in Aug year-on-year

* Economy grows at faster year-on-year pace in August

* Official data due on Friday at 1900 GMT
(Updates with president’s comment, details on data)

BUENOS AIRES, Oct 20 (BestGrowthStock) – Argentina’s economy
expanded 9.1 percent in August compared with the same month
last year, President Cristina Fernandez said on Wednesday, two
days before the official data was to be released.

If confirmed, it would represent a quickening from the 8.1
percent year-on-year expansion posted in July (ARECI14: ).

Latin America’s No. 3 economy is on track to grow about 9
percent this year, one of the fastest rates in the region,
boosting investor appetite for the country’s GDP warrants —
securities that are tied to economic growth.

“The latest economic activity index shows Argentina grew
9.1 percent from August to August. And the best news is that
industrial activity is growing above the level of economic
activity,” Fernandez said in a televised speech.

The median forecast in a Reuters poll of eight analysts was
for 8.5 percent growth, with estimates ranging from 6.7 to 9.5
percent.

The INDEC national statistics institute is due to report
the EMAE economic activity data (AREAI=ECI: ) and September
industrial production (ARIO=ECI: ) on Friday at 4 p.m. (1900
GMT).

Argentina’s industrial output jumped 10.1 percent in August
from the same month of 2009, according to the government’s
non-seasonally adjusted data (ARECI10: ).
(Reporting by Hilary Burke and Magdalena Morales; Editing by
James Dalgleish)

UPDATE 1-Argentine economy grew 9.1 pct in Aug year-on-year