World Economy

Argentina Economy Contracts

Argentina Economy ContractsArgentina Economy Contracts

Argentina’s economy contracted 0.8% late this year, amid weaker industrial output and weaker exports, authorities said, according to an AFP report. The negative growth in the last four months of the year continued a downward trend after a 0.8% rise in the first four months, followed by 0.0 stagnation in the second four, the Statistics and Census Office said. The International Monetary Fund said earlier this month that Argentina, censured for failing to meet its statistical quality standards, was making progress in improving the data but more was needed. Argentina had vastly underreported inflation and skewed gross domestic product figures for years, the report said.