*Argentina’s national statistics institute (Indec) has reported that in February the monthly estimate of economic activity (Emae) decreased by 0.2% as compared to the previous month and was down 3.2% year-on-year. Although economic activity dropped less than the 6% predicted by analysts surveyed by Reuters and Bloomberg, it nevertheless marked the fourth consecutive month of economic contraction, following yearly drops of 4.0% in January, 4.5% in December, and 0.9% in November. In year-on-year terms, declines were registered in eight sectors including construction (-19.1%), financial intermediation (-12.1%), manufacturing industry (-8.4%), and wholesale, retail, & repairs (-5.5%). Meanwhile growth was registered in seven sectors including fishing (+31.6%) and mining & quarrying (+11.7%).
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LatinNews Daily - 24 April 2024
In brief: Argentina’s economic activity falls again
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