What is happening with consumption?

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What is happening with consumption?

Third week
May 2017

Green shoots in consumption are appearing more slowly and with less strength than in other sectors. After the utilities rates adjustment, the proportion of household expenditure allocated for public services grew. This lowered the income available for consumption of goods in many households, especially in those that do not save nor have access to credit. Simultaneously, the official strategy is to boost growth through investment and exports. In this context, private consumption must go hand in hand with expansion, but not lead it.

In spite of that, green shoots are starting to appear. Although most of the consumption indicators are still showing yearly drops, they have been moderating steadily over the last few months. If compared to the last quarter, there are clear positive variations.