Day: July 15, 2020

The industry worked in May at 46.4% of its capacity

According to the report “Utilization of the installed capacity” disseminated by the INDEC, the industry worked at 46.4% in May. The data shows a slight increase concerning the historical floor registered in April, of 42%; but it also records a sharp contraction compared to the same month last year of 62%.

JP Morgan donated $50 mn for inclusion

JP Morgan announced that it donated a total of $50 million to support the foundations’ recovery and inclusion efforts in Argentina: Foundations, SES, Still Time, Pro-Women and the Let’s Be One program. The donation is part of the JP Morgan Chase Foundation’s global action and commitment to match every dollar of contributions that its employees can make voluntarily to the Global FoodBanking Network.

Projections: 11% drop in GDP and 42.2% inflation

The July report by Latinfocus Consensus Forecast, which includes forecasts from banks and private consultants, shows a worsening in most of the variables considered. They expect a drop of 11% in the GDP for 2020. The annual inflation would be 42.2% and that the official quotation of the dollar is located at 88 pesos, although some projections take it to a maximum of 102 pesos.