Argentina economic activity unexpectedly holds steady in July
BUENOS AIRES, Sept 26 (Reuters) - Argentina's economic activity index held steady in July compared with the same month a year earlier, official data showed on Friday, bucking expectations for a slight slowdown in Latin America's third-largest economy.
The median forecast in a Reuters poll of economists had been for a fall of 0.3 percent in the monthly EMAE economic activity index, which is a close proxy for gross domestic product. The reading for June was revised upwards to show a rise of 0.7 percent. It had originally been reported flat.
Activity rose 0.1 percent on the month in July, the data from the INDEC statistics agency showed.
Argentina said on Wednesday its economy pulled out of recession in the second quarter, but this raised doubts over the reliability of data as the government battles to ease the impact of its sovereign debt default. (Reporting by Maximiliano Rizzi; Writing by Sarah Marsh; Editing by Richard Lough and James Dalgleish)
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