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Economy & Business - June 2009 (ISSN 1741-7430)

ARGENTINA: Recession looms

Although the economy managed an average of 2% year-on-year growth over the first four months of the year, there are clear signs that activity is grinding to a halt. The most telling sign is that electricity consumption fell by 3.9%, year-on-year, in May. Industrial output also dropped by 1.7% in May. Another sign of the looming slowdown is that a lot of the inflationary steam seems to have gone out of the economy.

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