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12 Articles
Strong contraction of Latin America's third largest economy happened as retail and industry sectors continue to face difficulties
Compared to the previous year, the indicator of gross domestic product (GDP) decreased 2.1 per cent, well below the average estimate of 0.5 per cent of economists surveyed.
The EMAE cut the positive streak of January and marked an annual decline of 2.1%. Despite the brake, the economic team emphasizes that the trend-cycle continues to rise and bet on a rebound driven by dynamic sectors against an industry that works in at least four years.
"The underlying trend, measured by the trend-cycle indicator, continued to be placed on positive ground with a rise of 0.1% m/m," said the Economy holder.
The National Institute of Statistics and Censuses (INDEC) reported that it also decreased by 2.1% year-on-year. Manufacturing was the sector most affected.
Economic activity again showed a decline in February and deepened the signs of stagnation. According to the National Institute of Statistics and Censuses, the level of activity fell 2.6 per cent compared to January and 2.1 per cent in the year-on-year comparison, which represents the highest monthly decrease since December 2023. The data shows a brake after the slight improvement observed at the beginning of the year and exposes a recovery that …
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