Consumption in Dominican Republic
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 |
Dominican Republic Consumption Chart
Source: Dominican Republic Central Bank and FocusEconomics calculations
Dominican Republic Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 52.96 | 0.80 % | Jan 01 |
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Economic News
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Dominican Republic: Economy loses steam in January but remains solid
March 7, 2020
Economic activity grew 4.7% year-on-year in January, down from December’s 6.7% expansion but still marking a robust pace of growth compared to regional peers.
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Dominican Republic: Inflation dips in February but stays within the target range
March 7, 2020
Consumer prices fell 0.13% in February over the prior month, contrasting January’s 0.33% increase.
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Dominican Republic: Central Bank leaves rates unchanged in February but is monitoring the coronavirus fallout
February 28, 2020
At its February monetary policy meeting, the Central Bank (BCRD) left the policy rate unchanged at 4.50% for the sixth straight month, following 100 basis points of easing in June–August 2019 to boost economic activity.
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Dominican Republic: Inflation continues to rise in January
February 10, 2020
Consumer prices rose 0.33% in January over the prior month, up from December’s 0.20% rise.
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Dominican Republic: Central Bank leaves rates unchanged in January on encouraging growth and inflation metrics
January 31, 2020
At its January monetary policy meeting, the Central Bank (BCRD) left the policy rate unchanged at 4.50% for the fifth straight month, following 100 basis points of easing in June–August to boost economic activity.
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