Despite the economic growth registered during third trimester of 2016 this optimistic situation was not reflected in the population’s 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 trimester’s 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.
Consumption’s growth during the 2nd trimester of 2015 was related to the executive’s measures against informality, a process that forced the businesses to issue more bills and declared major incomes. The economy’s formalization was reflected even in the 2nd trimester of 2016 when the consumption’s growth went up to 4.09%.
Now, after more than a year from the executive’s action against informality, it seems that the third trimester of 2016 erased the effects of this process evidencing consumption’s real figures.