Argentina: Decline in economic activity softens in September
On an annual basis, economic activity fell at a softer pace of 6.9% in September (August: -11.8% yoy). An uptick in production in the agricultural, manufacturing and retail sectors as well as a surge in fishing output were behind the improved reading.
On a monthly basis, economic activity grew 1.9% in September, a stronger increase than August’s 1.6% uptick. Meanwhile, the trend deteriorated further, with the annual average variation of economic activity coming in at minus 9.0%, down from August’s minus 8.5% reading.