July 24, 2018 / 7:12 PM / a year ago

Argentina economic activity shrinks 5.8 pct yr/yr in May

BUENOS AIRES, July 24 (Reuters) - Argentina’s economy shrank 5.8 percent in May versus the same month last year, government statistics agency Indec said on Tuesday, the second straight month of declines in the latest sign the country is headed toward a recession.

Economic activity declined 1.4 percent when compared with April, the data showed, amid a run on the peso currency and financial market volatility that prompted the South American country to turn to the International Monetary Fund (IMF) for an emergency loan. (Reporting by Luc Cohen; Editing by Sandra Maler)

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