Argentina's economy shrank 1.7% in the second quarter of the year compared to the previous three-month period, the country's statistics agency said on Wednesday, pushing the embattled South American nation deeper into recession.

Argentina's gross domestic product fell 1.7 per cent year-over-year, worse than analyst forecasts of a 1.4 per cent contraction compared with the year-earlier period.

Argentina’s economy sunk deeper into recession in the second quarter as ripple effects from President Javier Milei’s currency devaluation and austerity exacerbated a downturn. Most Read from BloombergCalifornia’s Anti-Speeding Bill Can Be a Traffic Safety BreakthroughTo Build a Happier City,

Argentina's economy shrank 1.7% in the second quarter compared to the previous three months, the country's statistics agency said on Wednesday, extending a recession the South American nation entered early this year.