Economic output in the country fell by 4.3 percent in June compared to the same month last year, according to a study released yesterday by the National Institute of Statistics and Census (INDEC) called the “Monthly Estimator of Economic Activity” (EMAE). The study goes on to point out this is the third month with a negative trend, as economic output dropped by 2.1 percent in both May and June. If we are to make an average of the year’s first semester, economy as a whole fell by 1.3 percent. However, there is a silver lining: according to an index that measures these variations (but doesn’t take into account economic growth or drop inherent to every season – as with tourism in the summer, for example) economic output this month experienced a smaller drop compared to previous months than the months leading up to it. While the number reached 0.7 percent in both April and May, it dropped to 0.3 in June.

Source: The Bubble August 25, 2016 21:33 UTC