Argentina’s economic activity grew by 2.9% year-over-year, a significant decline from the previous 6.4% growth rate. This marks a decrease of 3.5 percentage points, indicating a slowdown in economic momentum.
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The actual growth of 2.9% fell short of analyst estimates of 3.3%, suggesting weaker-than-expected economic performance. This underperformance is likely to weigh on the stock market, particularly affecting sectors sensitive to economic cycles such as consumer goods and industrials. The market impact may be more sentiment-driven in the short term, as investors reassess growth prospects.