GDP of Argentina contracts by 10.3 % in Q3 as compared to last year

Argentina’s statistics agency National Institute of Statistics and Censuses (INDEC) has said that Argentina’s Gross Domestic Product (GDP) contracted 10.2 percent in the third quarter of 2020 versus the same 2019 period. 

According to INDEC, the downbeat performance of economy activities could yet be observed in private consumption (-14.7 percent), public spending (-6.5 percent), and a 10.3 percent decline in stable investment (-10.3 percent), regardless of the gradual alleviation of curfew procedures. 

Hotels and restaurants, according to the report of the agency, were the most impacted with (-61.5 percent). 

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