Argentina’s economic activity fell 8.4% in March from a year earlier, the country’s official statistics agency INDEC said, its fifth monthly drop in a row and the steepest fall since 2020.The result was a steeper drop than the 6.9% fall estimated by market analysts in a Reuters poll, underscoring the impact of libertarian President Javier Milei’s cost-cutting policies since taking office in December.Nine sectors recorded declines in the year-on-year comparison, led by construction that posted a 29.9% decline and the manufacturing industry which slipped 19.6%.
May 22, 2024
SOURCE: INVESTING
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