Argentina’s economy exits recession in milestone for Javier Milei

[MilHojas]

Argentina’s economy exits recession in milestone for Javier Milei

GDP expanded in third quarter as long-running crisis begins to ease

www.ft.com

The expansion was driven by a rebound in consumer spending and capital investment from a sharp decline earlier this year, and continued strong growth in agriculture and mining exports. Manufacturing and construction remain deeply depressed.

 

[carride]

Similar, without the paywall

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

Economists surveyed by Argentina’s central bank anticipate the economy will contract 3% for all of 2024 and grow 4.2% next year.

Argentina Weighs Managed Exchange Rate Once It Lifts Currency Controls

Argentina is weighing whether to introduce a managed exchange rate regime — a “dirty float” — once it lifts its current foreign exchange controls in 2025, according to policymakers.

www.bnnbloomberg.ca