Argentina nears recession after output shrinks

Economic activity declined 5.5% from a year ago, the deepest contraction since 2020 and exceeding the 3.4% median forecast of economists surveyed by Bloomberg. — Bloomberg

BUENOS AIRES: Argentina’s economy contracted more than expected in May, taking the economy to the brink of its sixth recession in a decade.

Economic activity declined 5.5% from a year ago, the deepest contraction since 2020 and exceeding the 3.4% median forecast of economists surveyed by Bloomberg.