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Argentina’s Bumpy Recovery May Spell Trouble for Macri Reforms

Why economic pain in the Buenos Aires area could be a thorn in the president's side
Mauricio Macri

Mauricio Macri

Photographer: Diego Levy/Bloomberg

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There is one small problem with Argentina’s incipient economic recovery: consumers aren’t feeling it. And that spells trouble for President Mauricio Macri in congressional elections in October.

Even as the latest figures show the economy grew 3.3 percent in May from a year earlier, consumer confidence in July fell 6.9 percent year-on-year.