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Economic activity fell 1.6% in August from a year earlier, a fifth consecutive decline.
The Argentines have thrown in the towel against their struggling economy this year.
Consumer confidence fell to 32.64 in October, its lowest level since the historic crisis of 2002, according to a key indicator released Thursday by a major university. Optimism has declined despite the 11% peso strengthening against the dollar this month after the central bank implements a new monetary policy backed by the International Monetary Fund. 1.6% compared to the previous year, which represents a fifth consecutive decline. However, activity increased 1.3% sequentially, according to official figures released Thursday. Government officials estimate that the economy is expected to contract by 2.4% this year and 0.5% in 2019. The third-quarter figure, which will be known by the end of the year year, will likely put the country into an official recession since it would act two consecutive quarters. of contraction.
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