Manufacturing in Argentina fell 6.8% in October year on year, while construction declined 3.7%, and in the first ten months of this year 2.5% and 4.9% respectively according to the Indec statistics bureau report. Firms were hit hard by a contraction in economic activity and the devaluation of the Peso against the US dollar.
The French government's decision to suspend fuel tax and utility hikes on Tuesday did little to appease protesters, who called the move a “first step” and vowed to fight on after large-scale rioting in Paris last weekend.
Mexico’s newly inaugurated president Andres Manuel Lopez Obrador, AMLO, is turning up the heat on foreign oil companies to show results before he holds new auctions.
Thanks to ExxonMobil’s run of success in oil exploration offshore Guyana, the country is on a path to becoming a Latin American powerhouse, Wood Mackenzie said. The super-major announced its tenth Guyana discovery this week, increasing the discovered recoverable resource in its Stabroek Block to more than five billion barrels.