Economics
Argentine Economy Rebounded More Than Expected in Reopening
- Economic activity in Argentina expanded 2.5% m/m; 10.8% y/y
- Growth follows four months of contraction impacted by lockdown
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Argentina’s economy expanded more than expected in June as the government relaxed lockdown measures and ended an export dispute with beef producers.
Economic activity rose 2.5% compared with May, above economists expectations for a 2% increase. From a year ago, the economy grew 10.8% in June, according to government data published Thursday. The growth caps a rocky quarter for Argentina, where analysts anticipate the economy contracted in the second quarter. Activity declined in April and May.