Economics
Argentina’s Economy Unexpectedly Grew for Second Month in May
- Economic activity in May increased 0.3% m/m; 7.4% y/y
- Economic outlook worsening as inflation accelerates past 60%
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Argentina’s economy unexpectedly grew in May, expanding for the second straight month despite elevated inflation.
Economic activity rose 0.3% from April, compared with the median estimate of economists surveyed by Bloomberg for a 0.5% decline. From a year ago, the economy grew 7.4%, according to government data published Wednesday. Tourism, mining and construction led activity during May.