UPDATE 1-Argentina economic activity up 5.5% in March, above expectations
March's economic rebound was driven primarily by the agriculture, livestock, and forestry sector, which saw a 17.9% surge year-on-year, as well as the mining and quarrying industry, which jumped 16.3% compared to the same month last year. Of the sectors tracked by the EMAE monthly economic activity indicator, only public administration, defense, and social security recorded a contraction, falling 1.2% year-on-year.
Argentina's economic activity climbed 5.5% in March compared with the same month last year, data from Argentina's national statistics agency showed on Thursday.
The jump for Latin America's third-largest economy surpassed the 2.1% growth projected by analysts polled by Reuters and was up from the 2.1% drop recorded in February. March's economic rebound was driven primarily by the agriculture, livestock, and forestry sector, which saw a 17.9% surge year-on-year, as well as the mining and quarrying industry, which jumped 16.3% compared to the same month last year.
Of the sectors tracked by the EMAE monthly economic activity indicator, only public administration, defense, and social security recorded a contraction, falling 1.2% year-on-year. Libertarian President Javier Milei has managed to significantly slash inflation through aggressive fiscal tightening and is aiming to boost activity in industrial, consumer, and construction sectors.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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