Economics
Argentina’s Economy Posts Sharpest Decline in a Year in May
- Economy activity in Argentina declined 2% m/m in May
- It’s the third decline of activity in the past four months
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Argentina’s economy posted its worst decline in a year in May as the government implemented another strict lockdown and a temporary ban on beef exports cooled the business climate.
Economic activity declined 2% in May from a month earlier, in line with economists’ expectations. It’s the third drop of activity in the past four months. Compared to a year ago, activity rose 13.6%, according to government data published Wednesday.