Official data showed today, Wednesday, that industrial production in Argentina fell 6.6 percent in June compared to the same month last year, which is a better performance than expected.
The market had expected a fall of about 10 percent, according to analysts. In May, industrial output fell 26.4 percent, compared to the same month in 2019. With the decline recorded in June, industrial production losses in the first six months of this year rise to 14.6 percent compared to the same period last year, according to Reuters.
Argentina recorded 213,535 cases of covid-19, of whom 4,009 died, according to the Ministry of Health.
And large population centers, such as the province of Buenos Aires, are undergoing isolation measures to prevent the spread of the pandemic since March 20. Those measures severely damaged Argentina’s economy, which is expected to contract by 10 percent to 12 percent this year.