Argentine economy shrank 1.9% in November 2019

Economic activity fell 1.9% year-on-year in November 2019, affected by inflation and the general decline in the industry, according to the National Institute of Statistics and Census (Indec). In its latest Monthly Economic Activity Estimator (EMAE), it says that the production of goods and services accumulated a contraction of 2.3% in the first nine months of 2019 compared to the previous year.

Industrial production falls 3.9% in November in 19th month of contraction

Argentine industrial production fell 3.9% year-on-year in November, accumulated a retraction of 6.9% in eleven months of 2019 and lost almost 53 thousand formal jobs in a year, thus accumulating 19 months of contraction, according to data from the Argentine Industrial Union (UIA). The most affected sectors were automotive industry (-26.4%), basic metals (-15.4%), and metalworking (-7.1%).