Argentina's Economy Rebounds with 2% Growth in Q4

Argentina’s economy grew by 2% year-on-year in the December quarter of 2024, surpassing expectations of a 1.7% expansion and recovering from a 2.1% contraction in the previous quarter.

This growth marks an end to six consecutive quarters of economic decline, driven by a rebound in the agriculture sector (1.6% vs.

-2% in Q3) as the effects of a historic drought that severely impacted grain production began to subside.

Manufacturing production (0.7% vs.

-6.2% in Q3), wholesale and retail trade (2.5% vs.

-5.8%), transportation (2% vs.

-0.3%), and financial intermediation (8.4% vs.

-2%) also posted gains.

However, declines were recorded in construction (-12.4% vs.

-15.2%) and utilities (-1% vs.

+0.6%).

On a quarterly basis, Argentina's GDP grew by 1.1%, following a 3.9% expansion in the previous period.