Argentine GDP contracted 1.4% in the last quarter of 2023, according to INDEC. It had just registered drops of 0.8% and 5% in the previous two quarters. Throughout last year, it accumulated a drop of 1.6%.
Argentina’s Gross Domestic Product (GDP) deepened its recession, registering a 1.4% year-on-year drop in the fourth quarter of 2023, ending the year with a drop of 1.6%announced this Wednesday the National Institute of Statistics and Censuses (INDEC).
The INDEC also said that the seasonally adjusted GDP showed a decrease of 1.9% compared to the third quarter of the year.
The Argentine GDP came from registering drops of 0.8% and 5% in the previous two quarters. Technically, it is determined that the country is in recession when GDP falls two consecutive quarters.
The INDEC indicated that the 2022 GDP ended with an improvement of 5%.
Source: Ambito
