Economy Posts Slight Growth Ahead of Midterm Vote
Argentina's economy showed a 0.3% growth in August compared to the previous month, and a 2.4% growth year-on-year.
The economy had been slowing down since the third quarter of last year, with a 0.1% contraction in the three months through June.
In July, the Central Bank stopped rolling over its short-term notes, leading to a liquidity crunch that worsened as the September 7 Buenos Aires Province vote approached.
Argentina’s economy posted a slight monthly expansion in August despite a liquidity crunch in a win for President Javier Milei ahead of a critical midterm election this weekend.
Economic activity grew 0.3 percent from July after three straight monthly contractions, and 2.4 percent from last August, just above the 2.3 percent median estimate of economists.
Author's summary: Argentina's economy grows 0.3% in August.