Argentina's April economic activity beats forecasts to bolster Milei rebound
Tweet
Share
E-mail
FILE PHOTO: Cranes are seen at sunset at a construction site in Buenos Aires, Argentina September 4, 2018. Picture taken September 4, 2018. REUTERS/Marcos Brindicci/ File Photo
BUENOS AIRES (Reuters) -Argentina's economic activity rose 7.7% in April compared with the same month last year, the biggest annual increase in around three years, official data showed on Monday.
The figure for Latin America's third-largest economy came above the 6.6% expansion projected by analysts polled by Reuters.
The pace of growth accelerated from the 5.4% expansion it reported for March.
Most economic sectors expanded in the month, led by the financial sector, which jumped 28.4%, and construction, which registered a 17.1% increase.
On a month-on-month basis, Argentina's economic activity increased 1.9% in April.
"The April EMAE data shows the recovery trend continues," said Eugenio Mari, chief economist at the Liberty and Progress Foundation, adding that the decline observed in March was "clearly a temporary figure responding to the uncertainty generated in the run-up to the agreement with the IMF."
The government of libertarian President Javier Milei has implemented a series of tough austerity measures as it looks to lift Argentina's economy out of a crisis marked by steep and persistent inflation.
(Reporting by Hernan Nessi and Natalia Siniawski; Editing by Sarah Morland)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Israel says it strikes southern Lebanon after Hezbollah drone launch
- Starbucks anti-unionization case brought by NLRB narrowed by US appeals court
- Trump says he will spend $400 million to $500 million from his super PAC on midterm elections
Create E-mail Alert Related Categories
ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
