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Argentina’s Economy Shows No Signs of Exiting Recession

  • Industrial production shrank 8% in Oct., construction 19%
  • President Macri has promised a recovery in the fourth quarter
Workers guide a concrete mixer inside the construction site for a building development in Buenos Aires, Argentina, on Friday, Nov. 25, 2016.

Workers guide a concrete mixer inside the construction site for a building development in Buenos Aires, Argentina, on Friday, Nov. 25, 2016.

Photographer: Sarah Pabst/Bloomberg

The economic recovery Argentina’s President Mauricio Macri promised isn’t materializing on schedule.

Industrial production contracted 8 percent in October from a year earlier, while construction shrank 19 percent, the statistics agency said on Wednesday. Both indicators, which account for about 20 percent of the economy, worsened from September readings.