Argentina’s Economy Extended Downturn in April Amid Milei’s Cuts
- Activity in April fell 1.7% vs year ago; declined 0.1% m/m
- Argentina entered a recession in the first quarter of 2024
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Argentina’s economy slumped slightly in April, marking four of the last five months in decline since President Javier Milei took office as he marches on with his shock therapy austerity campaign.
Economic activity fell 1.7% in April from a year ago, less than expectations for a 3.5% drop, according to analysts surveyed by Bloomberg. On a monthly basis, activity declined 0.1%, according to government data published Friday.