Argentine Economy Exits Recession, Easing Pressure on Macri

Embattled President Mauricio Macri can breath a sigh of relief after new figures show Argentina’s economy emerged from recession in the third quarter, earlier than previously estimated, with growth then accelerating in the fourth.

Gross domestic product expanded 0.5 percent in the last three months of the year from the previous quarter, the national statistics agency said in a statement Tuesday. Third quarter growth was revised to 0.1 percent, from a decline of 0.2 percent. Still, for the full year, the economy contracted 2.3 percent.