According to official data released on Tuesday, Argentina's economic activity saw a 5.5% increase in December compared to the same month the previous year, marking the fastest growth rate since mid-2022. This growth exceeded the 3.5% expansion forecasted by analysts surveyed by Reuters. The data, showing a notable improvement from a revised 0.4% growth in the previous month, was mainly fueled by growth in nine sectors, with significant expansions noted in financial intermediation and commerce, as reported by the statistics agency INDEC.

The report highlights that Argentina's economic activity also registered a 0.5% increase in December compared to the previous month, marking the third consecutive monthly rise. These positive indicators suggest a potential recovery for Argentina's struggling economy, which had been severely impacted by austerity measures implemented under President Javier Milei.

Additionally, INDEC reported a 1.8% annual decline in the country's economic activity for 2024.