This progress accompanied the overall GDP growth, which increased by 5.8% year-on-year and by 0.8% in the seasonally adjusted measurement, in line with the reactivation of activity following the macroeconomic correction driven by the ruling party.
"The official GDP data for the first quarter brought a significant correction that many are overlooking. According to the EMAE, GDP had averaged an increase of 1.5%, but the official report adjusted that growth to 0.8%," explained consultant Gabriel Caamaño on his X account. Far from being a sign of weakness, the correction reflects a strong expansion in investment demand over public consumption or exports.
While private consumption grew by 2.9% in the same period and public consumption declined slightly (-0.1%), investment stood out as the most dynamic component of aggregate demand. Meanwhile, exports fell by only 1.5%, reflecting still adverse external conditions.
At the sectoral level, the recovery is accompanied by notable increases in Financial Intermediation (+27.2%), Fishing (+11.6%), and Hotels and Restaurants (+9%), among others. These sectors, linked to both the real economy and services, show that growth is not merely statistical, but is beginning to permeate concrete areas of economic life.
The recovery of investment is perhaps the most revealing sign of the change in expectations that the Argentine economy is experiencing. In a productive structure battered by years of uncertainty, controls, and economic populism, the new paradigm continues to bear fruit.
