Argentina's Economy Expands More Than Expected in November - BNN

Shoppers enter a boutique store in the Palermo neighborhood as national mask and capacity restrictions are lifted, in Buenos Aires, Argentina, on Saturday, Sept. 25, 2021. Argentina is pivoting from one of the world's strictest pandemic lockdowns to arguably one of its fastest reopenings, as a fast-improving vaccination campaign and political urgency unlock the gates to South America's second-largest nation. , Bloomberg

(Bloomberg) -- Argentina’s economy expanded more than expected in November, as its post-pandemic recovery regained momentum despite political noise and uncertainty related to debt talks with the International Monetary Fund. 

Economic activity rose 1.7% from October, the fastest pace since June and above analysts’ expectations for a 0.9% expansion. From a year ago, it grew 9.3%, according to government data published Tuesday. 

Read more: Argentina Bonds Slump Below 30 Cents on Doubts Over IMF Deal

The recovery resumed after a brief decline in October. It was driven by sectors including tourism, mining and transportation, despite new price controls and policy uncertainty that followed the defeat of the government coalition in November’s midterm elections. 

Argentina’s economy was put in spotlight this month when Nobel laureate Joseph Stiglitz called its estimated 10% growth in 2021 an “economic miracle.” His comments were met by a wave of criticism from Latin American economists who pointed out the economy’s many problems. 

©2022 Bloomberg L.P.

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Argentina's Economy Expands More Than Expected in November - BNN
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