BUENOS AIRES (Reuters) – Argentina’s June industrial production fell 6.6% versus the same month a year earlier, the country’s statistics agency said on Wednesday, better than analysts had forecast and a far shallower drop than in the previous months since the start of the coronavirus pandemic.

The market had expected a fall of about 10%, according to analysts. In May, industrial output tumbled 26.4% versus May 2019. June’s figure brought the loss in output to 14.6% in the first six months of this year versus the same 2019 period.

Argentina has had 213,535 COVID-19 cases, 4,009 of which have been fatal, according to the Health Ministry.

Big population centers, like Buenos Aires province, have been on lockdown against the pandemic since March 20. The measure has battered the Argentine economy, which is expected to shrink by 10% to 12% this year.

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