Retail Sales in Argentina
Argentina - Retail SalesThe economy seemingly moved into a lower gear in Q1. Annual growth in economic activity slowed in the quarter. Moreover, consumer confidence dropped further, while inflation spiked. On top of this, the industrial sector expanded at a weaker pace than in Q4. Turning to Q2, a further deterioration in consumer confidence in April-May, coupled with rising inflation, bodes poorly for household spending and overall activity. Meanwhile, the country recently postponed payments on its over USD 2 billion debt to the Paris Club group until 2024 or until a new framework is agreed. Moreover, the government launched a tender to build a new gas pipeline from the Vaca Muerta shale formation, which could increase transport capacity by 25%, and is encouraging investment in the project. Finally, in order to reduce the fiscal deficit, an 'extraordinary income' tax was announced in June, which should mainly affect the grains industry.
Argentina - Retail Sales Data
|Retail Sales (annual variation in %)||27.3||26.0||20.8||28.5||45.4|
5 years of economic forecasts for more than 30 economic indicators.
Argentina Retail Sales Chart
Source: National Statistical Institute (INDEC) and FocusEconomics calculations.
|Bond Yield||6.69||0.15 %||Dec 17|
|Exchange Rate||59.88||0.45 %||Dec 30|
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November 30, 2022
The Universidad Torcuato di Tella (UTDT) consumer confidence index decreased to 35.1 in November from 35.6 in October.
November 24, 2022
Merchandise exports plummeted 11.5% over the same month last year in October (September: -2.2% year-on-year).
November 24, 2022
The monthly indicator for economic activity (EMAE) expanded 4.8% in year-on-year terms in September, which followed August's 6.6% increase.
November 17, 2022
Inflation came in at 88.0% in October, up from September’s 83.0%.
November 9, 2022
Industrial output expanded 4.2% compared to the same month of the previous year in September, which was a deterioration from August's 7.8% increase.