Argentina economic activity grows 5.7% in February

BUENOS AIRES (Reuters) -Argentina's economic activity rose 5.7% in February compared with the same month last year, notching its fourth consecutive month of year-on-year growth, official data showed on Tuesday.

Latin America's third-largest economy has shown signs of a turnaround in the past few months, after being hit hard by libertarian President Javier Milei's tough austerity measures.

Tuesday's reading showed activity accelerating at a slower pace compared with a revised 6.7% year-on-year expansion in January, but beating the 5.1% rise expected by analysts polled by Reuters.

Eleven economic sectors expanded in February compared to the same month in 2024, led by financial services, up 30.2%, and fishing, up 28.3%. Financial services also had the biggest positive impact on the year-on-year variation, led by wholesale and retail, up 7.4%, and manufacturing, up 5.0%.

On a month-on-month basis, economic activity increased 0.8% in February, the fifth consecutive monthly gain and a slight uptick from a revised 0.6% growth the prior month.

(Reporting by Hernan Nessi and Walter Bianchi; Writing by Brendan O'Boyle, Editing by Natalia Siniawski)

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