Domin. Rep. Economic Outlook
September 10, 2019The economy showed signs of life in July, after a less favorable external environment and pre-election uncertainty weighed on momentum in the second quarter. Growth in economic activity accelerated markedly from June’s near two-year low, likely supported by monetary stimulus in the form of lower interest rates and liquidity injections. Moreover, robust annual remittances growth should be buttressing private consumption, despite falling from the highs observed earlier in the year. Less positively, recent bad press over visitor deaths has tarnished the tourism sector. Arrivals were down 11% year-on-year in July and, in September, the government consequently created a committee designed to improve the security of the tourism sector, which is a vital source of foreign currency.
Dominican Republic Economic GrowthGrowth will ease this year from 2018’s four-year high, in line with slower U.S. growth, global trade tensions and a weaker contribution from tourism in H2. Nevertheless, the expansion should still be notably above the regional average. Volatile energy prices, uncertainty over the tourism sector and a possible stronger-than-expected U.S. slowdown are the main downside risks. FocusEconomics panelists expect GDP growth of 5.2% in 2019, which is down 0.1 percentage points from last month’s forecast. For 2020, panelists see the economy expanding 4.6%.
Dominican Republic Economy Data
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Dominican Republic Facts
|Exchange Rate||51.26||0.80 %||Sep 04|
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Dominican Republic Economic News
August 30, 2019
The economy gained steam in July, according to the Central Bank’s monthly indicator for economic activity (IMAE).
August 30, 2019
Consumer prices rose 0.47% in July over the prior month, contrasting June’s 0.18% fall.
July 31, 2019
The economy lost steam in Q2, according to the Central Bank’s monthly indicator for economic activity (IMAE, Indicador Mensual de Actividad Económica).
July 30, 2019
Consumer prices fell 0.18% in June over the prior month, down from May’s 0.03% fall.
July 1, 2019
The economy appears to have lost steam in Q2, according to the Central Bank’s monthly indicator for economic activity (IMAE, Indicador Mensual de Actividad Económica).