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Argentina Private consumption

Argentina Private consumption

Private Consumption in Argentina

The Argentine economy recorded an average growth rate of -0.1% in private consumption in the decade to 2024, above the 1.9% average for Latin America. In 2024, the growth of private consumption was-2.9%. For more information on private consumption, visit our dedicated page.

Argentina Private consumption Chart

Note: This chart displays Private Consumption (annual variation in %) for Argentina from 2025 to 2024.
Source: Macrobond.

Argentina Private consumption Data

2020 2021 2022 2023 2024
Private Consumption (ann. var. %) -12.2 9.5 9.5 1.0 -2.9

Economy slips into contraction in the second quarter of 2025

GDP reading: Argentina's GDP was down 0.1% in seasonally adjusted quarter-on-quarter terms in Q2, following a 0.9% expansion in the previous quarter.

Drivers: Compared to the prior period's data, figures in Q2 softened for private consumption (-1.1% on a seasonally adjusted quarter-on-quarter basis vs +2.7% in Q1), fixed investment (-0.5% vs +8.9% in Q1) and imports of goods and services (-3.3% vs +16.0% in Q1). In contrast, readings picked up for government consumption (+1.1% vs -0.7% in Q1) and exports of goods and services (-2.2% vs -2.5% in Q1). In annual terms, economic output expanded 6.3% in Q2, following 5.8% growth in the prior quarter and boosted by a favorable base of comparison—the economy was mired in recession in Q2 last year.

Panelist insight: On the outlook, Itaú Unibanco analysts said: “Given the weak performance of leading indicators for 3Q25 and the impact of high real interest rates on consumption amid political turmoil, we see significant downside risks to our GDP growth forecast of 5.0% for 2025. Manufacturing and construction both declined in July, and tax collection fell in real terms in August. According to Universidad Torcuato Di Tella's monthly index, consumer confidence decreased by 13.9% from July to August, due to deteriorating macroeconomic prospects and decreased willingness to purchase durable goods and real estate.”

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Argentine private consumption projections for the next ten years from a panel of 31 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable private consumption forecast available for Argentine private consumption.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Argentine private consumption projections.

Want to get access to the full dataset of Argentine private consumption forecasts? Send an email to info@focus-economics.com.

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