Argentina’s Economy Declines: Indec Report Reveals Troubling Numbers
Despite overall negative results, Agriculture, Livestock, Hunting, and Forestry showed a 23.6% increase.
Argentina’s National Institute of Statistics and Census (Indec) released a report indicating a 1.3% year-on-year decline in economic activity in July. The report revealed significant contractions in sectors like Construction, Fishing, Manufacturing, and more.
However, there were some positive spots, with Agriculture, Livestock, Hunting, and Forestry showing a 23.6% increase. Mining and quarrying, Electricity, gas and water, and other sectors also saw slight growth.
Despite a brief rebound in July, Argentina’s industrial activity has overall experienced a 12.8% drop this year. The industry faces challenges, with companies struggling to reach their installed capacity. Majority of sectors, except for Food and Beverages, saw decreases in production, sales, exports, and employment.
