*Argentina’s national statistics institute (Indec) has released new figures showing that economic activity increased by 2.3% in May, compared with the same month in 2023. In seasonally adjusted monthly terms, economic activity increased by 1.3%. The yearly increase was driven by agriculture, hunting & forestry (+103.3%) and electricity, gas & water (+11.0%). This was the first positive result for economic activity in yearly terms since October 2023. Argentina’s economic contraction has intensified since President Javier Milei took office in December 2023 and began making huge cuts to public spending aimed at reducing the fiscal deficit.
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LatinNews Daily - 19 July 2024
In brief: Argentina’s economic activity breaks downward trend
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