Argentina says economy grew 0.5 pct in Q1 under president Macri

miércoles 29 de junio de 2016 15:27 GYT

BUENOS AIRES, June 29 (Reuters) - Argentina said on Wednesday the economy expanded 0.5 percent in the first quarter versus the year-earlier period, the first gross domestic product (GDP) data for 2016 released by President Mauricio Macri's administration.

The number, published by the revamped Indec statistics agency, dramatically surpassed analysts' expectations of a 1.3 percent contraction for the January through March period, according to a Reuters poll.

Indec also revised its 2015 GDP growth figure to 2.37 percent from the 2.1 percent expansion that Macri's government had initially reported for last year. (Reporting by Joanna Zuckerman Bernstein; Editing by Sandra Maler)