(Adds details from report, background on economy)
BUENOS AIRES, April 25 Argentina's economic
activity fell 1.9 percent in February compared with the previous
month, the largest month-on-month drop since President Mauricio
Macri took office in December 2015, the country's Indec
statistics agency said on Tuesday.
Activity also fell 2.2 percent compared with the same month
the previous year, Indec said. The data show that despite
exiting recession with two consecutive quarters of modest growth
last year, Latin America's third-largest economy has gotten off
to a rough start in 2017.
The year-on-year drop was driven by a 7.1 percent decline in
manufacturing activity, a 6.7 percent drop in mining activity
and a 4.9 percent decrease in wholesale and retail commerce. The
agricultural sector grew 1.8 percent while the financial sector
grew 1 percent, the data showed.
Inflation spiked in February to 2.5 percent and remained
high in March, prompting the central bank to hike interest rates
earlier this month.
(Reporting by Luc Cohen; editing by Diane Craft and Sandra