Argentina’s economic activity increased by 0.5% in September compared to August, and by 5% relative to the same month of the previous year. The economy grew by 0.5% in the third quarter overall, avoiding a recession.

Tuesday’s figures from the government’s INDEC statistics institute came as a surprise to some analysts, who were expecting the country to dip into recession.

Every sector of the economy grew year-on-year, except for industrial manufacturing (which fell by 1%) and public administration and defense (down 0.7%), the numbers showed.

Fishing and finance grew the most compared with last year, up 58% and 40% respectively. Finance had the greatest positive impact on the index.

Before the INDEC’s report was published, consultancies had forecast a year-on-year slump. If the country’s GDP had shrunk for two consecutive........

© Buenos Aires Herald