Argentine economy shrinks 0.8 percent in first quarter

lunes 23 de junio de 2014 15:08 GYT

BUENOS AIRES, June 23 (Reuters) - Argentine gross domestic product contracted 0.8 percent in the first quarter after shrinking 0.4 percent in the last three months of 2013, official data showed on Monday, confirming that Latin America's No. 3 economy slipped into recession.

The news came on the back of a setback for Argentina last week in its ongoing debt fight, and as the economy grapples with one of the world's highest inflation rates, difficult access to capital, complex export and import restrictions and falling central bank reserves. (Reporting by Buenos Aires newsroom; Editing by James Dalgleish)