Consumption in Dominican Republic

Dominican Republic Consumption | Economic News & Forecasts

Dominican Republic - Consumption

The economy rediscovers a spring in its step in Q3

The economy bounced back in Q3 from a sharp slowdown in the second quarter, according to Central Bank data (Q3: +4.9% year-on-year; Q2: +3.7% yoy).

The Central Bank’s recent monetary easing—in the form of 100 basis points of rate cuts since June and a DOP 34 billion liquidity injection—was likely key to this improved performance. Private-sector credit growth has accelerated notably since the easing was implemented, averaging over 10% year-on-year in Q3. This, coupled with robust remittances growth, should have buttressed private consumption. Looking at individual economic sectors, over the first nine months of the year growth was driven chiefly by construction, services and agriculture, with manufacturing performing more sluggishly amid a less favorable external environment.

Looking ahead, monetary stimulus measures should continue to feed through to the economy in coming months, aiding consumption and investment. Turning to 2020, growth is likely to ebb in line with a slowing U.S. economy, although the Dominican Republic should continue to strongly outperform the regional average.

FocusEconomics Consensus Forecast participants see the economy expanding 5.1% in 2019 and 4.6% in 2020.

Dominican Republic - Consumption Data

2014   2015   2016   2017   2018  
Consumption (annual variation in %)5.1  6.5  5.5  3.9  5.2  

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Dominican Republic Consumption Chart


Dominican Republic Consumption
Note: Annual variation of total consumption in %.
Source: Dominican Republic Central Bank and FocusEconomics calculations

Dominican Republic Facts

Value Change Date
Exchange Rate52.960.80 %Jan 01

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