Argentina's September Economic Surge Surpasses Predictions

Argentina's economic activity in September exceeded expectations, growing by 5.0% year-on-year, driven by gains in the financial-services and fishing sectors. Analysts had forecast a 2.2% rise. The growth contradicted expectations of a slowdown due to political uncertainty. Notably, the fishing industry soared by 58.2%.

Argentina's economy defied forecasts in September, posting a remarkable 5.0% rise in activity compared to the same month last year, as per newly released data from the national statistics agency. This performance significantly outshone the 2.2% growth predicted by analysts polled by Reuters.

While concerns loomed over potential economic deceleration due to the October mid-term elections, which bolstered the libertarian ruling party of President Javier Milei, the economy's resilience emerged unexpectedly. September's activity, as a key indicator of potential GDP trajectory, also showed a modest 0.5% increase from August.

The financial services and fishing sectors were standout performers. The fishing industry, in particular, saw a striking 58.2% year-on-year surge, while financial services registered a 39.7% jump. Such robust sectoral gains underscore the broader economic vitality in Latin America's third-largest economy.

(With inputs from agencies.)