Indicators
Argentina Exited Recession as Milei Eyes Growth Before Mid-Terms
- Gross domestic product expanded 3.9% q/q; contracted 2.1% y/y
- Economy expected to shrink 3% this year, expand in 2025
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Argentina emerged from a brutal recession in the third quarter, boosting the odds that President Javier Milei heads into next year’s mid-term elections with growth on the rebound alongside cooling inflation.
Gross domestic product expanded 3.9% from July to September compared to the previous three-month period, better than analysts’ expectations for 3.4% growth. From a year ago, South America’s second-largest economy shrank 2.1% in the third quarter, according to government data published Monday. The median estimate of economists surveyed by Bloomberg was for a contraction of 2.6%.