Indicators
Argentina Economy Posts Best Month Under Milei Despite Cuts
- Economic activity in Argentina rose 2.3% y/y vs. est. -2.5%
- Argentina entered a recession in the first quarter of 2024
Tourists and pedestrians on Plaza de Mayo in Buenos Aires, Argentina.
Photographer: Sarah Pabst/BloombergThis article is for subscribers only.
Argentina’s economy recorded its best month in May since President Javier Milei took office late last year as investors look for signs of recovery from another recession.
Economic activity rose 1.3% from April, above the 0.1% median estimate from analysts in a Bloomberg survey and the first month of growth since Milei’s term began in December. From a year ago, the proxy for gross domestic product grew 2.3%, defying expectations for a decline of similar magnitude, according to government data published Thursday.