Argentina’s Economic Activity Shrank 6.9 Percent in September

Argentina’s economic activity shrank 6.9 percent year-on-year in September, in a moment when the country is experiencing an economic crisis because of the COVID-19 crisis and the lockdown measures imposed to contain its spread

Argentina’s economic activity shrank 6.9 percent year-on-year in September, in a moment when the country is experiencing an economic crisis because of the COVID-19 crisis and the lockdown measures imposed to contain its spread

According to a Wednesday morning report by Argentina’s INDEC national statistics bureau, the country is accumulating a fall of 11.9 percent since the turn of the year, pointing out that the economic activity shrank one percent more than it has previously predicted.

However, INDEC’s data indicated that the local economy grew 1.9 percent in September from the previous month, as restrictions on businesses and the movement of people were loosened, a fact highlighted by the Economy Ministry in a later statement that stressed that it was “fifth consecutive monthly rise” of activity.”

According to INDEC’s data, six of the 15 sectors recorded growth, led by commerce and industry. Negative data was recorded for sectors including transport and communications (down 19 percent) and community, social and personal service activities (down 50 percent).

Editors Note: There was a typographic error in the SLUG of the story “ARGENTINA-ECONOMIC-ACCTIVITY” sent at: 25.11.2020 12:17. This is a corrected repeat.


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