INSUBCONTINENT EXCLUSIVE:
has led to a cumulative 3.4% drop in GDP for the first six months of the year.The economic downturn intensified between April and June, with
a 1.7% decrease compared to the first quarter.Investment suffered the most significant impact, plummeting by 29.4% in the year-on-year
Imports also took a hit, falling by 22.5%.Both private and public consumption experienced substantial declines
Private consumption decreased by 9.8%, while public consumption fell by 6%.These figures highlight the widespread impact of the recession on
(Photo Internet reproduction)Construction emerged as one of the hardest-hit industries, with a staggering 22.2% decline.The manufacturing
sector followed closely, contracting by 17.4%
Wholesale and retail trade also suffered, dropping by 15.7%.Financial intermediation and the hospitality industry faced significant
The former experienced a 9.8% decline, while hotels and restaurants saw a 4.5% decrease in activity.These figures underscore the
broad-reaching effects of the economic downturn
However, not all sectors faced decline
Agriculture, livestock, hunting, and forestry saw an impressive 81.2% growth.Fishing and mining also showed positive trends, with increases
of 41.3% and 6.6% respectively.Utilities and transportation sectors managed to grow despite the overall economic contraction.Electricity,
Half of 2024 Amid RecessionThe preliminary official data indicates a prolonged economic recession in Argentina.This downturn coincides with
predicts a 3.8% GDP decline for the year.As Argentina grapples with these economic challenges, the country faces an uncertain path to
