Argentina's Economic Rebound: Growth Continues Amid Austerity Measures

Argentina's economic activity increased by 5.7% in February year-on-year, marking the fourth consecutive month of growth. The country shows signs of recovery following tough austerity measures. Eleven sectors experienced expansion, with financial services and fishing leading the growth. The economy grew 0.8% monthly.

Argentina witnessed a 5.7% rise in economic activity in February, marking the fourth straight month of annual growth, according to official data released on Tuesday.

The country's recovery comes after significant challenges due to President Javier Milei's austerity policies. February's growth rate showed a slower acceleration, following January's revised 6.7% growth, but exceeded the 5.1% prediction from Reuters' analysts.

Eleven sectors saw expansion, notably financial services by 30.2% and fishing by 28.3%. Factors such as wholesale, retail, and manufacturing also contributed significantly. On a monthly basis, the economy rose by 0.8%, achieving its fifth month of sequential growth.

(With inputs from agencies.)