# Argentina’s austerity-hit economy reels towards recession, testing Milei ahead of 2027 vote By Reuters

> Argentina's economy is likely in recession after a third-quarter contraction, according to economists, with household consumption falling sharply under President Milei's austerity policies. Some 32,300 businesses closed between December 2023 and July, per Fundar, and a Buenos Aires sock maker reports sales down around 40%.

- Date: 2026-11-02 · published 2026-11-02T12:10:01.434Z
- Category: macro · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/75388-argentina-s-austerity-hit-economy-reels-towards-recession-testing-milei-ahead
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

Weakening Argentine domestic demand and a stressed peso-era economy can reduce local feed and livestock demand, while political pressure ahead of the 2027 election adds currency and policy uncertainty for feed buyers.

## Read by commodity

- USDARS: neutral

## Sources

- investing.com: https://www.investing.com/news/economy-news/argentinas-austerityhit-economy-reels-towards-recession-testing-milei-ahead-of-2027-vote-4990610

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.