Argentina economy picks up

Argentina's economic activity rose 1.6 percent in December compared with the previous month, government data showed on Friday, a sign the economy likely expanded in the fourth quarter after a long recession. Median expectations in a Reuters poll were for a year-on-year drop of 0.6 percent in December. The economy fell 0.1 percent in December year over year and closed 2016 down 2.3 percent compared with 2015.
That ended a difficult year for the Argentina as President Mauricio Macri enacted a number of market-friendly reforms aimed at liberalizing the economy and encouraging investment, which in the short-term contributed to rampant inflation.