Buenos Aires - Argentina's economy contracted 4.9 per cent in the third quarter of 2001 compared with the third quarter of 2000, according to preliminary Economy Ministry estimates released yesterday.
The decline in gross domestic product was led by the goods sector, where lower manufacturing and construction activity led to a 5.5 per cent decline from a year ago.
The service sector shrank by 4.6 per cent in the same period.
A deepening recession in Latin America's third economy, now in its fourth year, has slashed tax revenues and consumer spending.