"The economy is officially in recession since Friday"

The latest figures released by the National Institute of Statistics and Censuses (INDEC) on a further decline in economic activity, this time by 5.8% year on year, have once again alerted Economists and financial badysts who warned that "The economy is officially in recession since Friday." "The skid of activity is accelerated," they maintain with concern.

"The economy is officially in recession since Fridaywhen INDEC announced a 5.8% drop in October. The skid of the activity accelerates. In November, the situation is worse than in October. The industry, construction and trade fall like a piano, in free fall, "lamented economic badyst David Cufré at the launch of the radio program Gustavo Sylvestre.

And in the same vein, the economic columnist added this morning: "The CAME reports that industrial production of SMEs fell by 5% in October, their fall for six consecutive months and their cumulative 1.8 %. Friday the dollar rose one peso from one moment to the next because there were foreign investors who pulled out"

In addition, the National Institute of Statistics and Census (INDEC) released Friday data on economic activity that fell 5.8% from one year to the next. in September, becoming the largest decline of the year. To the same extent, according to Indec, economic activity recorded its sixth consecutive decline, which accumulates a contraction of 1.5% to that it goes from 2018, worrying for the sector.

According to figures from Indec's monthly economic activity estimator (EMAE), in September compared to the previous month, production of goods and services decreased by 1.9%. In August, the drop was 1.6% compared to July. The data on economic activity are added to those provided a few days ago also by Indec, which noted that the total base basket in October had experienced a 7.5% increase, to reach 24,241.17 pesos.