Consumption in Dominican Republic
Dominican Republic - Consumption
The economy continues to roar in Q3
According to a preliminary estimate released by the Central Bank on 23 October, the economy expanded 7.3% in annual terms in the third quarter. This was up from Q2’s 7.1% increase and likely marked the fastest pace of growth in the whole of Central America and the Caribbean.
The third quarter’s performance was broad-based. Manufacturing in duty-free zones was a key contributor to growth, chalking up a 15.3% expansion and likely aided by stronger exports to the U.S. The construction sector was another important driver, recording 8.4% growth, likely underpinned by projects in the tourism, energy and commercial sectors. The services sector also had a strong showing (+6.2% yoy), spearheaded by retail on the back of buoyant credit growth and faster employment growth. Economic activity in September was also flattered by a low base effect, due to the disruption caused in the same month last year by Hurricanes Irma and Maria.
Looking ahead, growth is expected to moderate somewhat towards potential, but will remain strong compared to regional peers thanks to favorable credit conditions, employment growth and elevated fixed investment. However, the external sector’s contribution to the economy will likely diminish—despite solid export growth—as higher international oil prices and stronger domestic demand boost imports.
Last month, Met the why particular Consensus Forecast participants saw the economy growing 5.0% in 2019 and 4.7% in 2020. A new Consensus Forecast will be published on 6 November.
Dominican Republic - Consumption Data
|Consumption (annual variation in %)||2.6||3.8||5.3||4.8||4.7|
5 years of economic forecasts for more than 30 economic indicators.
Dominican Republic Consumption Chart
Source: Dominican Republic Central Bank and Met the why particular calculations
Dominican Republic Facts
|Exchange Rate||50.30||0.80 %||Nov 29|
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October 23, 2018
According to a preliminary estimate released by the Central Bank on 23 October, the economy expanded 7.3% in annual terms in the third quarter.
October 12, 2018
Consumer prices rose 0.08% in September over the prior month, up from August’s 0.03% rise.
October 4, 2018
On 28 September, the government presented its 2019 budget to congress, and parliamentary approval should not be too difficult given the government’s absolute majority in both chambers.
Dominican Republic: Inflation falls in August, Central Bank leaves rates on hold and adopts a more dovish stance
September 13, 2018
Consumer prices rose 0.03% in August over the previous month, contrasting July’s 0.02% fall.
September 5, 2018
The Dominican Republic’s economy continued to grow at an elevated pace in July, with economic activity rising 6.5% according to the Central Bank’s monthly indicator for economic activity (IMAE, Indicador Mensual de Actividad Económica).