Argentina’s economic activity increased by 6.5% in January compared to the same month last year, its highest annual growth since mid-2022, showed official data on Thursday.
The country’s economy recorded its third consecutive month of growth, accelerating its rise compared to a revised annual expansion of 6% in December, and exceeds the 4.7% increase expected by analysts consulted by Reuters.
Among the ten economic sectors that registered an increase in January, financial intermediation, wholesale, retailer and repair trade were the main drivers of national growth, according to data from the Indec Statistics Agency.
Argentina’s combined economy has shown a possible twist in recent months after being harshly hit by President Javier Milei’s rigid austerity measures.
In monthly terms, Argentina’s economic activity grew 0.6% in January, the fourth consecutive monthly top, but a slight slowdown in the revised growth of 0.8% in the previous month.
