Domestic Demand in Argentina

Argentina Domestic Demand | Economic News & Forecasts

Argentina - Domestic Demand

GDP growth improves in Q2

GDP growth gathered momentum to 6.9% year on year in the second quarter, from 6.0% in the first quarter.

Fixed investment growth improved to 18.8% in Q2, from a 10.6% increase in the prior quarter. Public spending accelerated to a 5.3% increase in Q2 (Q1: +5.0% yoy). Meanwhile, private consumption growth eased to 10.7% yoy in Q2 compared to a 10.9% expansion in Q1, due to souring consumer sentiment and elevated inflation.

Growth in exports of goods and services sped up to 9.3% in Q2 (Q1: +8.9% yoy). Conversely, imports of goods and services growth moderated to 23.1% in Q2 (Q1: +26.8% yoy).

On a seasonally adjusted quarter-on-quarter basis, economic growth edged down to 1.0% in Q2, compared to the previous period's 1.2% growth. Q2's reading marked the slowest expansion since Q2 2021.

Activity is expected to cool in H2, as downbeat consumer sentiment coupled with a further spike in inflation hit private consumption. Moreover, political uncertainty will restrain private sector activity. That said, a timely implementation of the recent IMF deal poses an upside risk.

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 of 1.9%.

Argentina - Domestic Demand Data

2015   2016   2017   2018   2019  
Domestic Demand (annual variation in %)4.2  -1.6  6.0  -3.4  -8.7  

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Argentina Facts

Value Change Date
Bond Yield6.690.15 %Dec 17
Exchange Rate59.880.45 %Dec 30

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