Argentina's GDP shrinks 10.2 pct in Q3
Source: Xinhua | 2020-12-18
Argentina's Gross Domestic Product (GDP) shrank 10.2 percent in the third quarter compared with the same period in 2019, the National Institute of Statistics and Censuses (INDEC) said Wednesday.
Despite the gradual easing of lockdown measures, the negative performance of economy activities could still be seen in private consumption (-14.7 percent), public spending (-6.5 percent), and a 10.3 percent drop in fixed investment (-10.3 percent), said INDEC.
The most affected, according to the agency's report, were hotels and restaurants (-61.5 percent).
The third quarter also sees a 12.8-percent upturn from the April-June period, when a record plunge of 19.1 percent was registered.
Argentina's economy, the third largest in Latin America after Brazil and Mexico, could contract 10.9 percent this year, the Central Bank of Argentina forecasted.
Busiunion
Busiunion