Argentina\u2019s economy contracted in April after a short-lived rebound the previous month, underscoring a trend of uneven growth more than halfway through President Javier Milei\u2019s term.<\/p>\n
Economic activity fell 1.5 percent\u00a0from March, below the one percent\u00a0drop estimated by Bloomberg Economics<\/em>, according to government data published Monday. From a year ago, the gross domestic product proxy grew 1.6 percent, below the 3.3 percent\u00a0median estimate of economists surveyed by Bloomberg<\/em>.<\/p>\n \u201cThe key problem remains a highly uneven composition. Most strength is concentrated in a handful of competitive tradable sectors, with no signs of a pickup in the broader economy,\u00bb said Jimena Z\u00fa\u00f1iga, Argentina Economist for\u00a0Bloomberg<\/em>.<\/p>\n Agriculture led growth on an annual basis, while manufacturing, retail and fishing fell. Earlier indicators had already previewed an uneven performance across the economy, with mining expanding while manufacturing and construction both contracted more than two percent from a year ago. \u00a0\u00a0<\/p>\n Argentina\u2019s gross domestic product grew 0.7\u00a0percent in the first quarter, more than expected, compared with the previous quarter on consumer spending. Argentine GDP is forecast to expand for the second straight year in 2026, driven by record exports from energy, agriculture and mining. Yet unemployment continues to rise as the formal labour force sheds nearly half a million jobs.\u00a0<\/p>\n Economists Argentina expect the country to grow 2.9\u00a0percent in 2026 and inflation to slow slightly to 30.5 percent, according to the Central Bank\u2019s monthly survey in May.\u00a0<\/p>\n by Manuela Tobias, Bloomberg<\/p>\n \t\t\t\t\t\t\t\t<\/p>\n