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By: Reuters Staff
BUENOS AIRES (Reuters) - Argentina’s economic activity AREAI=ECI expanded 4.0 percent in June compared with the same period the prior year, government statistics agency Indec said on Thursday, the latest sign of economic recovery ahead of legislative elections in October.
Economic activity in June rose 0.3 percent compared with May, Indec said. The economy grew a cumulative 1.6 percent in the first half of the year, marking a continued recovery from a biting recession in the first half of 2016. The economy contracted by 2.2 percent overall last year.
June marked the fourth straight month of year-on-year gains, providing a boost to President Mauricio Macri’s market-friendly government ahead of October’s mid-term vote, where a positive result could give political momentum to the rest of his agenda, including reforms to the country’s tax code and capital markets.
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