Analysts warn that the devaluation, added to the uncertainty and high inflation, could have an impact on the economy during the second half of the year. “Key sectors like industry and construction registered a 1.3% and 1.5% monthly seasonally adjusted drop. “Following the devaluation after the 2019 PASO, economic activity between July and the end of that year fell by almost 4% in seasonally adjusted terms. )”“Prospects for economic activity have deteriorated following the depreciation of the exchange rate and the start of massive adjustments regarding prices of goods and services. The contraction effects of these events will translate into more recession and, potentially, a new monthly inflation low.

Source: Bueno Aires Herald August 22, 2023 14:20 UTC