*Argentina’s national statistics institute (Indec) has released the latest figures on economic activity, which show that the country’s GDP fell 1.4% year-on-year in the fourth quarter of 2023, dropping 1.9% in quarterly terms. This means that Argentina’s economy contracted 1.6% for the full year of 2023 compared with 2022. Indec highlights that in year-on-year terms Argentina’s quarterly GDP was particularly hit by a 6.0% drop in manufacturing and 5.1% decline in utilities, while gross fixed capital formation (GFCF) was down 6.8%. The 1.4% contraction registered in the fourth quarter of 2023 year-on-year follows a contraction of 0.8% in the third quarter, a 5.0% contraction in the second, and 1.4% growth in the first.
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