Argentina’s economic activity grew 2.7% year-on-year in June, the national statistics agency reported on Tuesday, surpassing analyst expectations of 1.9% and reversing the prior month’s 0.4% rise.
The June expansion marks the strongest monthly performance since mid-2023, reflecting a rebound in industrial output and services following a period of subdued activity. Seasonally adjusted data indicated a 1.1% month-on-month increase, signaling a sustained recovery trajectory after May’s near-stagnation.
Economists attributed the stronger-than-anticipated reading to improved agricultural exports, resilient domestic consumption, and a partial stabilization in energy production. The data follows a period of volatility driven by fiscal tightening measures and currency fluctuations, which had weighed on business confidence in recent quarters.
The National Institute of Statistics and Censuses (INDEC) did not provide a breakdown of sectoral contributions in the preliminary release. Market analysts noted that while the June figure signals a rebound, broader macroeconomic challenges—including inflation running above 270% annually and elevated public debt—remain key headwinds for sustained growth.
The central bank’s recent policy adjustments, aimed at anchoring inflation expectations, have yet to fully translate into broad-based economic stabilization, underscoring the fragility of the recovery.
