A report released by Argentina’s National Institute of Statistics and Census (Indec) showed that the country’s economic activity fell by 0.7% in October for an accumulated 2.7% interannual contraction in the first ten months of 2024, driven particularly by fishing (-49.9%) and construction (-14.5%) amid President Javier Milei’s austerity plans which included halting all public works. The Indec’s Monthly Economic Activity Estimator (EMAE) remained relatively stable for six consecutive months, with five sectors posting interannual improvements. Mining and quarrying grew by 7.4%, agriculture, livestock, hunting, and forestry by 2.3%, and financial services by 1.8%.
December 21, 2024
SOURCE: MERCOPRESS
Indec says Argentina’s economy contracted 2.7% through October