Economics
Argentina’s Economy Shrank in January After Strong Finish to 2021
- Economic activity in January fell 0.5% from previous month
- Growth slowed down ahead of $45 billion deal with IMF
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Argentina’s economy contracted in January as a surge in coronavirus cases due to the omicron variant weighed on industrial manufacturing.
Economic activity in January fell 0.5% from the prior month, better than analysts’ median estimate for a 1% contraction. From a year ago, the economy expanded 5.4% in the first month of the year, according to government data published Tuesday.