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#Argentina’s economy continued to stagnate in October, contracting by 4%, the 7th straight month of declining activity. That performance, @business’s @Pat_Gillespie reports, was worse than analysts expected.https://www.bloomberg.com/news/articles/2018-12-27/argentina-s-rebound-from-crisis-year-trailing-economist-forcasts …
But there was good news too: as @Pat_Gillespie also reported, demand for USD in #Argentina, a symptom of mistrust of the peso, is declining for the first time in five years, as savers take advantage of the 48% interest rate paid by banks for peso deposits. https://www.bloomberg.com/news/articles/2018-12-28/dollar-fever-subsides-in-argentina-as-imf-plan-stabilizes-peso …
November data looks bad too, with @jpmorgan reporting poor performances by key sectors such as construction and car sales in #Argentina.
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