UPDATE 1-Argentine economy expands 9.7 pct in April

* Economic growth in April beats forecast in Reuters poll

* Consumer spending helping to propel growth
(Recasts, adds details, background)

BUENOS AIRES, June 25 (BestGrowthStock) – Argentina’s economy grew
at its fastest pace in nearly two years in April, expanding 9.7
percent from a year earlier, the government said on Friday.

Latin America’s No. 3 economy has rebounded from a sharp
slowdown last year, driven by increased consumer spending and
demand for Argentine-made cars in neighboring Brazil.

“Argentina’s economic activity has returned to levels
before the outbreak of the economic crisis,” the consultancy
group Economia y Regiones said in a report.

A Reuters poll of 11 analysts gave a median outlook for
growth of 7.0 percent in April, with estimates ranging from 6
to 8 percent.

The economy expanded 1.3 percent in April versus March.

Argentina’s economy grew 0.9 percent in 2009, according to
official data, but many analysts say it probably contracted by
2 percent or more.

Argentina’s official economic data has been widely
questioned for more than two years as private economists accuse
the government of overstating growth and underreporting
inflation for political gain.

The government forecasts the economy will expand by 5
percent this year.

Investment Basics
(Reporting by Luis Andres Henao; Writing by Kevin Gray;
Editing by James Dalgleish)

UPDATE 1-Argentine economy expands 9.7 pct in April