Argentina: Softest decline in economic activity since February in November
On an annual basis, economic activity fell at a slower pace of 3.7% in November (October: -7.3% yoy). Softer downturns in fishing and in construction activity as well as a rebound in manufacturing output were behind the improved reading.
On a monthly basis, economic activity grew 1.4% in November, a somewhat softer increase than October’s 2.1% uptick. Meanwhile, the trend deteriorated further, with the annual average variation of economic activity coming in at minus 9.5%, down from October’s minus 9.3% reading.