Argentina Economy Picks Up

Argentina’s economic activity rose 1.6% in December compared with the previous month, government data showed, a sign the economy likely expanded in the fourth quarter after a long recession, Reuters reported. Median expectations in a Reuters poll were for a year-on-year drop of 0.6% in December. The economy fell 0.1% in December year over year and closed 2016 down 2.3% compared with 2015. That ended a difficult year for Argentina as President Mauricio Macri enacted a number of market-friendly reforms aimed at liberalizing the economy and encouraging investment, which in the short-term contributed to rampant inflation.