May 6, 2020 / 7:32 PM / a month ago

Argentina industrial output plunges 16.8% y/y in March - stats agency

El empleado se para mientras opera una máquina en la empresa de fabricación industrial Gottert en Garin. Buenos Aires. Argentina Foto de archivo 1 nov 2018. REUTERS/Marcos Brindicci

BUENOS AIRES (Reuters) - Argentina’s industrial output plunged 16.8% versus the same month a year earlier, the official INDEC statistics agency said on Wednesday, underscoring the impact of a nationwide coronavirus lockdown on the country’s already fragile economy.

The drop was the worst monthly decline in almost two decades, according to Refinitiv Eikon data, since an over 20% fall in early 2002. The country was already mired in recession with high inflation before the pandemic.

Reporting by Jorge Iorio; Writing by Adam Jourdan

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