Argentina economic activity contracts 1.7% YoY in August, teeters on technical recession

Argentina's monthly economic activity estimator fell 1.7% year-on-year in August, with only a marginal 0.1% improvement from July, failing to offset July's 2.9% collapse. With Q2 GDP already down 0.6%, a September jump near 2.8% is needed to avoid a technical recession, which would be the ninth since 2001. The data signals persistent economic fragility and raises risks for growth and policy credibility.

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