Argentine Economy Grew More Than Expected in First Quarter (opens original article in a new tab)

Argentina's economy grew 0.7% in the first quarter, above expectations, driven by consumer spending despite rising unemployment and wage stagnation relative to inflation.

• GDP grew 0.7% in Q1 2024, exceeding forecasts of 0.4%
• Consumer spending drove growth while investment, exports, and government spending declined
• Wages rose 3.7% in April but still trailed 12% annual inflation