BUENOS AIRES (Dow Jones)--Argentina is expected to report continued strong economic growth in April as bumper crops, strong consumer spending and high government expenditures fuel a rebound from last year's slowdown.Analysts polled by the Central Bank expect the government to report a 6.6% year-on-year gain in proxy gross domestic product in April.
The national statistics agency Indec is set to release the April report on Friday at 4:00 p.m. local time.
The expected strong performance in April follows first-quarter growth of 6.8% on the year and 3% on the quarter.
Argentina's economy has recovered much of the ground it lost during the first quarter of 2009, when the global economic crisis rattled world markets and caused demand to slide.
The country, a top grain and beef exporter, also suffered from a brutal drought last year which caused about a third of the crops to wilt.
But expanded planting area and excellent weather this season pushed grain production to a new record and is plays a large role in the solid GDP growth posted so far this year.
-By Shane Romig, Dow Jones Newswires; 54-11-4103-6738; This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Source: http://online.wsj.com/article/BT-CO-20100624-714610.html
