Consumption in Argentina
Argentina - Consumption
GDP growth records slowest increase since Q1 2021 in Q1
GDP growth lost momentum in the first quarter, falling to 6.0% year-on-year (yoy), from 8.9% in the fourth quarter of last year. Q1's reading was the worst since Q1 2021.
The slowdown was broadly based, with private consumption, public spending, fixed investment and exports all weakening. Private consumption growth fell to 9.3% in Q1, marking the weakest expansion since Q1 2021 (Q4 2021: +10.0% yoy). Public consumption grew at its slowest pace since Q3 2020, expanding 6.5% (Q4 2021: +11.8% yoy). Meanwhile, fixed investment growth fell to 12.7% in Q1, marking the worst reading since Q3 2020 (Q4 2021: +14.7% yoy).
On the external front, growth in exports of goods and services growth fell to 9.3% in Q1, marking the worst result since Q2 2021 (Q4 2021: +22.5% yoy). Conversely, imports of goods and services growth picked up to 28.1% in Q1 (Q4 2021: +22.1% yoy).
On a seasonally-adjusted quarter-on-quarter basis, economic growth slowed markedly to 0.9% in Q1, from the previous period's 1.9% expansion. This marked the worst reading since Q2 2021.
FocusEconomics analysts see the economy expanding 2.6% in 2022, up 0.2 percentage points from the previous month’s forecast. In 2023, analysts see growth at 1.9%.
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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August 12, 2022
Consumer prices soared 7.41% from the previous month in July, accelerating from the 5.30% rise logged in June.
August 11, 2022
Industrial output grew 6.9% in year-on-year terms in June, which was a deterioration from May's 12.1% increase.
August 10, 2022
Industrial production rose 6.9% year on year in June (May: +12.1% yoy).
August 5, 2022
On 28 July, the Central Bank of Argentina (BCRA) decided to hike the LELIQ rate to 60.00% from 52.00% in a bit to tame inflation.
August 4, 2022
The Universidad Torcuato di Tella (UTDT) consumer confidence index decreased to 34.7 in July from 39.1 in June.