Consumption in Argentina
Argentina - Consumption
Economy grows strongly in Q2 on low base effect
GDP growth gathered significant momentum in the second quarter, accelerating to 17.9% year-on-year from 2.9% in the first quarter, benefiting from a favorable base effect.
The upturn mainly reflected a marked improvement in domestic demand. Private consumption rebounded, growing 21.9% year-on-year in Q2 following a 1.7% contraction in Q1. Government consumption also bounced back, growing 8.2% in Q2 (Q1: -0.1% yoy). Fixed investment growth, meanwhile, sped up to 76.6% in Q2 from 38.7% in the prior quarter, driven by the construction sector.
On the external front, exports of goods and services bounced back, growing 6.3% year-on-year in the second quarter (Q1: -9.9% yoy). Meanwhile, growth in imports of goods and services sped up to 36.6% in Q2 (Q1: +4.9% yoy), marking the best reading since Q3 2010.
On a seasonally-adjusted quarter-on-quarter basis, however, economic activity declined 1.4% in Q2, contrasting the previous period's 2.8% expansion, amid stricter Covid-19 restrictions.
LatinFocus Consensus panelists see the economy growing 4.7% in 2021, which is up 0.2 percentage points from last month’s estimate, and 2.6% in 2022, which is up 0.1 percentage points from last month’s estimate.
Argentina - Consumption Data
|Consumption (annual variation in %)||3.7||-0.8||4.0||-2.4||-6.4|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||6.69||0.15 %||Dec 17|
|Exchange Rate||59.88||0.45 %||Dec 30|
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September 24, 2021
GDP growth gathered significant momentum in the second quarter, accelerating to 17.9% year-on-year from 2.9% in the first quarter, benefiting from a favorable base effect. The upturn mainly reflected a marked improvement in domestic demand.
September 15, 2021
Consumer prices rose 2.5% over the previous month in August, following the 3.0% increase logged in July.
September 8, 2021
The Universidad Torcuato di Tella (UTDT) consumer confidence index rose to 39.8 in August from 37.9 in July, marking the best reading since November 2020.
September 8, 2021
Industrial output rose 13.0% in year-on-year terms in July, which was a softer expansion than June's 19.4%.
August 19, 2021
The monthly indicator for economic activity (EMAE) grew 10.8% year-on-year in June (May: +13.6% yoy).