Macroeconomy/Finance

GDP dropped 26.4% in April, the worst in 120 years

INDEC estimated April’s drop at 26.4% compared to a year earlier and 17.5% from the March level. After 29 months in continuous recession, economic activity is suffering exceptionally badly from the effect of preventive and obligatory social isolation to avoid the contagion of Covid-19. The industry showed a fall of 34.4%; trade contracted 27%; construction plummeted 86.4%, according to the estimate of the official statistics agency.

Source: Infobae

Categories: Macroeconomy/Finance