Key facts
- Argentina's economic activity increased by 1.6% in April.
- This growth rate was lower than the 2.2% anticipated by analysts polled by Reuters.
- The agriculture, livestock, hunting, and forestry sectors, along with mining and quarrying, drove the growth.
- Manufacturing and wholesale and retail trade sectors experienced declines.
- Eight of the tracked sectors showed contractions compared to the previous year.
Argentina's economic activity expanded by 1.6% in April, a figure that fell short of the 2.2% growth anticipated by analysts polled by Reuters. This slowdown marks a decrease from the 6.2% rise recorded in March.
The official data, released by INDEC, indicated that the primary drivers of April's growth were the agriculture, livestock, hunting, and forestry sectors, alongside mining and quarrying. However, this positive momentum was tempered by contractions in other key areas.
Specifically, manufacturing and wholesale and retail trade experienced declines. Furthermore, eight of the sectors monitored by the monthly economic activity indicator recorded contractions when compared to the same period a year earlier, with fishing being notably affected.
The April reading suggests a recovery that remains uneven under President Javier Milei's administration. His government has implemented significant cuts to public spending as part of an effort to curb inflation, while simultaneously aiming to stimulate growth in sectors such as industry, consumption, and construction.