Argentina’s economic activity likely expanded 5.8% year-on-year in May, marking its eighth-consecutive month of growth, according to the median forecast in a Reuters poll.
The poll of 11 local analysts showed an average forecast for 5.9% growth in Latin America’s third-largest economy, with estimates ranging from a low of 3.5% to a high of 7.8%.
“The year-on-year comparison shows a significant contrast with the situation in 2024, as activity grows… in the fifth month of the year,” said consultancy Orlando Ferreres & Asociados (OJF) in a report.
However, economic activity “likely saw a slight dip compared to April,” when the figure grew 7.7% year-over-year, said Aldo Abram, an economist at the Libertad y Progreso Foundation.
Looking ahead, analysts expect growth to continue, but at a more moderate pace, citing upcoming elections as a source of uncertainty.
OJF also pointed to a “slower-than-expected recovery in household income and an exchange rate regime that is detrimental to some domestic-oriented sectors” as potential headwinds.
Statistics agency INDEC will publish the May activity data on Monday afternoon (1900 GMT).