On January 23, official data revealed that Argentina experienced economic growth for the first time in six months, with a slight 0.1% year-on-year expansion in November, surpassing expectations. Analysts surveyed by Reuters had predicted this improvement in the grains-rich South American nation.

This shift suggests a potential economic reversal for Argentina following the challenging period of austerity measures implemented by President Javier Milei to combat inflation and stabilize the economy.

The latest figures indicate an improvement from a 0.6% year-on-year contraction, marking the first growth since the 1.4% increase recorded in May of the previous year. Notably, the expansion in November was primarily propelled by the fishing and financial intermediation sectors, according to data from the statistics agency INDEC.

While 10 productive sectors reported contractions in November, the construction and commodities sectors were particularly impacted with significant declines.

In November, Argentina's economic activity rose by 0.9% compared to the previous month, marking the second consecutive monthly increase.