September 19, 2019 / 7:25 PM / 5 months ago

Argentina says Q2 GDP rose 0.6 yr/yr, first expansion since Q1 2018

BUENOS AIRES, Sept 19 (Reuters) - Argentine gross domestic product grew 0.6% in the second quarter of the year, the country’s statistics agency said on Thursday, its first rise since the start of 2018, as Latin America’s No. 3 economy battles to reignite growth.

News of the modest economic expansion in the April-June period came as the country prepares for the Oct. 27 election, following a landslide defeat for President Mauricio Macri in the August primary vote, which hammered local markets lower.

The country’s economy shrank 2.5% last year and 5.8% in the first quarter of 2019. The government expects a 2.6% contraction this year.

The country’s unemployment rate rose to 10.6% in the second quarter from 9.6% in the same period last year, the official INDEC statistics agency also said on Thursday. (Reporting by Hugh Bronstein)

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