Despite the economic growth registered during third trimester of 2016 this optimistic situation was not reflected in the populationís consumption.
The latest data issued by Statistics Institute (INSTAT) show that final consumption during third trimester of past year marked an annual growth of 1.65%, far distant from the 3.1% growth during the same period in 2015. The consumption marked a decrease even compared to the third trimesterís reports.
The total consumption, (including that of the public administration), was expanded with 1.87%, compared to 2.95% of the same period in 2015.
Consumptionís growth during the 2nd trimester of 2015 was related to the executiveís measures against informality, a process that forced the businesses to issue more bills and declared major incomes. The economyís formalization was reflected even in the 2nd trimester of 2016 when the consumptionís growth went up to 4.09%.
Now, after more than a year from the executiveís action against informality, it seems that the third trimester of 2016 erased the effects of this process evidencing consumptionís real figures.