Argentina's probability of a recession reaches 70%, study says

The Centre of Financial Research CIF of the Torcuato Di Tella University School of Business released the data of the Leader Index (ILCIF) corresponding to September 2011, and showed that the  Argentina's probability of entering a recession reached 70 percent.

The ILCIF index registered a 3.4 percent decrease in comparison to the previous month, and increased 3.7 percent year-on-year.

Martin González Lozada, main researcher of the CIF, stated that “taking into account the current survey, the Leader Index shows a 4.5 plunge since last December."

"The possibility of recession increased considerably in comparison to August and reached 70 percent. The results of the survey suggest a slowing down of the growth of the economic activity for the next months,” he concluded.