LatinNews Regional Monitor: Brazil & Southern Cone - 05 October 2018

* Argentina’s national statistics institute (Indec) has released the latest instalment of its monthly industrial activity estimator (EMI), which shows that domestic industrial activity fell by 5.6% year-on-year in August. This is the fourth consecutive month in which the EMI has reported falling industrial activity, providing clear evidence that Argentina’s domestic economy is heading towards recession this year. Indeed, on the back of the August result, the accumulated EMI measure so far this year has fallen by 0.8% compared with last year. The accompanying Indec reports that the August fall in industrial activity was driven by lower levels of activity in practically all industrial sub-sectors with the exception of the automotive sector, which had a 13.7% increase in activity, and the basic metal production sector (7.7%).

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