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LatinNews Daily - 23 October 2020
In brief: Argentina’s economic activity shows signs of recovery
* Argentina’s national statistics institute (Indec) has released the latest figures for the monthly indicator of economic activity (Emae), used as a preview of GDP growth, which show that the country’s economic activity contracted by 11.6% year-on-year in August as a result of the impact of the coronavirus (Covid-19) pandemic. Indec hails the latest figures as a sign of recovery, compared with contractions of 13.1% in July, 11.7% in June, 20.1% in May, and 25.5% in April. With the exception of the financial intermediation sector, which was up 4.1% year-on-year in August, all other sectors registered declines. The biggest contractions were registered in: hotels & restaurants (-56%); other activities of community, social and personal services (-53.7%); and construction (-32.1%).
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- In brief: Argentina’s economic activity shows signs of recovery