China’s economy shrank for the first time since at least 1992 in the first quarter, as the coronavirus outbreak paralyzed production and spending, raising pressure on authorities to do more to stop mounting job losses.
Argentina's GDP contracted 2.2% last year, hit by the downfall of manufacturing, retail and financial activities, according to the official stats office, Indec. In the last quarter of 2019 the economy dropped 1% over the previous quarter and 1.1% compared to the fourth quarter of 2018.
Argentina will finish 2019 at 55% annual inflation, the country’s treasury minister said on Monday, capping off a tumultuous year for Latin America’s No. 3 economy that also saw voters usher in a new leftist government.