Argentina’s Economic Activity Shrinks for Fourth Month
- June activity fell 0.2% on month and 4.4% from year ago
- Argentina economy expected to enter recession in third quarter
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Argentina’s economic activity contracted for the fourth straight month in a fresh sign that one of South America’s largest countries is barreling toward recession amid fast inflation and heightened political uncertainty.
Economic activity fell 0.2% in June from a month earlier, according to government data published Wednesday. The economy shrank 4.4% from a year prior, more than the 3.7% contraction expected by analysts surveyed by Bloomberg. May’s monthly drop was also revised lower, to -0.6% from -0.1%.