Analysis by Region - Emerging Markets - Argentina
Argentina's economy grew 0.3% m/m in January, according to the monthly GDP indicator (EMAE). This modest expansion breaks a streak of four consecutive monthly declines in activity since September last year. However, we still expect the economy to remain on a downward trend, as severe droughts greatly affected prospects for soybean and corn crops this year, which adds to the growing list of downside risks to our 2023 GDP forecast of a 2% contraction.
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