Argentine Economy Exits Recession, Easing Pressure on Macri

Source: Bloomberg
By: Charlie Devereux

Embattled President Mauricio Macri can breath a sigh of relief after new figures show Argentina’s economy emerged from recession in the third quarter, earlier than previously estimated, with growth then accelerating in the fourth.

Gross domestic product expanded 0.5 percent in the last three months of the year from the previous quarter, the national statistics agency said in a statement Tuesday. Third quarter growth was revised to 0.1 percent, from a decline of 0.2 percent. Still, for the full year, the economy contracted 2.3 percent.

“There’s enough evidence here to support the government’s claim that the economy is now through the worst,” Neil Shearing, chief emerging markets economist at Capital Economics, wrote in an emailed report.

The incipient recovery in production is the first sign that Macri’s policies are gaining traction after a year in which inflation soared, unemployment rose and purchasing power declined. Still, the rebound is too weak for labor unions planning the first national strike under Macri for April 6, shutting down public transport and bringing the country to a halt on the first full day of the World Economic Forum in Buenos Aires.


  • VII Concurso Internacional de Vinhos do Brasil (Wine)
  • New York Times 36 Hours in Buenos Aires
  • Alternative Latin Investor
  • Artful Living (Mansion)
  • Avid Magazine (AWE)
  • BlackBook Mag (Mansion)
  • CNN (AWE)
  • Conde Nast Traveler (Mansion)
  • Delta Sky Magazine (Mansion)
  • Departures (AWE)
  • Elite Traveler (Mansion)
  • Finger Lakes International Wine Competition (Wine)
  • Fodor's Choice 2013 (Mansion)
  • Fodor's Choice 2013 (Wine Estates)
  • Fodors (AWE)
  • Forbes Life (Mansion)
  • Frommer's Best Vineyards & Hotels Around the World
  • Andrew Harper’s Grand Awards 2013
  • International Wine Challenge U.K.
  • 2013 International Wine & Spirit Competition (Wine)
  • Kiwi Collection (Mansion)
  • Kiwi (AWE)
  • National Geographic Traveller 2012
  • Order Wine Direct (Wine)
  • Robb Report Exceptional Places 2012
  • Tablet Hotels (Mansion)
  • Telegraph (AWE)
  • Mediterranean International Wine & Spirits Challenge (Wine)
  • Travel+Leisure
  • Trip Advisor Top 25 Hotels for Romance Argentina
  • Unique Homes (AWE)
  • USA Today (Mansion)
  • 2013 Vinalies Internationales Paris d'or (Wine)
  • Vinandino 2013 (Wine)
  • VINUS 2014 (wine)
  • WAWWJ 2014 (Wine)
  • Wine Enthusiast (AWE)