Weekly Report - 27 August 2020 (WR-20-34)

ARGENTINA | Economic recovery? On 20 August Argentina’s national statistics institute (Indec) released the monthly indicator of economic activity (Emae), used as a proxy of GDP, which gave an indication of the extent of the damage caused by one of the region’s longest and strictest lockdowns for coronavirus (Covid-19). It revealed a 12.3% contraction in June compared with the same month in 2019 and an accumulated six-month contraction of 12.9%, again compared with the same period a year before.