Argentina Economy Shrinks for Second Month Amid Uneven Recovery
Skip to ContentNewsArchivesEconomyEnergyOil & GasRenewablesElectric VehiclesMiningCommoditiesAgricultureReal EstateMortgagesMortgage RatesFinanceBankingInsuranceFintechCryptocurrencyWorkWealthSmart. . .
Skip to ContentNewsArchivesEconomyEnergyOil & GasRenewablesElectric VehiclesMiningCommoditiesAgricultureReal EstateMortgagesMortgage RatesFinanceBankingInsuranceFintechCryptocurrencyWorkWealthSmart MoneyWealth ManagementInvestorPersonal FinanceFamily FinanceRetirementTaxesHigh Net WorthFP CommentExecutive WomenPuzzmoNewslettersFinancial TimesBusiness EssentialsMoreInnovationInformation TechnologyFP500PodcastsSmall BusinessLives ToldTails ToldShoppingFinancial Post StoreObituariesPlace a NoticeAdvertisingAdvertising With UsAdvertising SolutionsPostmedia Ad ManagerSponsorship RequestsClassifiedsPlace a Classifieds adWorkingProfileSettingsMy SubscriptionsSaved ArticlesMy OffersNewslettersCustomer ServiceFAQNewsEconomyEnergyMiningReal EstateFinanceWorkWealthInvestorFP CommentExecutive WomenPuzzmoNewslettersFinancial TimesBusiness EssentialsHomePMN BusinessArgentina Economy Shrinks for Second Month Amid Uneven RecoveryArgentina’s economy contracted for a second straight month in May, underscoring a trend of uneven growth more than halfway through President Javier Milei’s term. Author of the article:You can save this article by registering for freehere. Orsign-inif you have an account. ckrg3hnim)zcozkigga3mem2_media_dl_1. pngNational statistics agency, Bloo(Bloomberg) — Argentina’s economy contracted for a second straight month in May, underscoring a trend of uneven growth more than halfway through President Javier Milei’s term. Subscribe now to read the latest news in your city and across Canada. Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others. Daily content from Financial Times, the world's leading global business publication. Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account. National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles, including the New York Times Crossword. Subscribe now to read the latest news in your city and across Canada. Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others. Daily content from Financial Times, the world's leading global business publication. Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account. National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles, including the New York Times Crossword. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorEconomic activity fell 0. 5% from April, below the 0. 2% rise estimated by Bloomberg Economics, according to government data published Wednesday. From a year ago, the gross domestic product proxy grew 0. 2%, below the 2. 5% median estimate of economists surveyed by Bloomberg. Agriculture and mining led growth on an annual basis, while manufacturing and retail fell. Earlier indicators had already previewed an uneven performance across the economy, with exports expanding while weak imports and tax revenues point to tepid domestic demand. Get the latest headlines, breaking news and columns. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Top Stories will soon be in your inbox. We encountered an issue signing you up. Please try againMoody’s Ratings became the third and final major credit rating company to lift the country’s credit score Tuesday, strengthening the case for Argentina’s return to international debt markets. Inflation also slowed for a third straight month in June to the lowest level since August in another win for Milei. Argentina’s gross domestic product grew 0. 7% in the first quarter, more than expected, compared with the previous quarter on consumer spending — but the weakest performance was in employment-rich sectors. Argentine GDP is forecast to expand for the second straight year in 2026, driven by record exports from energy, agriculture and mining. Yet unemployment continues to rise as the formal labor force sheds nearly half a million jobs. “Investors remain concerned that uneven growth could eventually lead to a political shift next year,” Morgan Stanley analysts led by Fernando Sedano wrote in a July 10 note. “We keep thinking growth dynamics will become gradually less heterogeneous, as construction activity edges up and as consumers’ sentiment improves through a recovery in real wages and, later this year, a modest resumption of credit. ”Economists surveyed by the central bank in June forecast a 2026 year-end inflation rate of 30%, down from 30. 5%, in the previous survey, with growth of 3%. —With assistance from Rafael Gayol. Join the ConversationThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more aboutcookies here. By continuing to use our site, you agree to ourTerms of UseandPrivacy Policy.