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Economic activity grew 11.8% year-on-year in August, still a high rate due to a low comparison base. A comparison of the 2021 figures with those of 2019 (pre-health-crisis situation) shows that activity grew 1.6% in August (July: 0.4%)
Consumption in October has maintained a good dynamic, growing 18.1% compared to the same period in 2019, slightly higher than in September (17.8%), although the highest since the beginning of the pandemic, but with a different composition between goods and services.
In this publication you will find, on a weekly basis, our selection of the most relevant news regarding financial regulation.
Consumption declined significantly in the second half of September, although there is still good news for tourism spending as a result of the "Previaje" program. Based on our indicators, we forecast a third quarter with weak performance in general activity, industrial production, construction and supermarket purchases.
The principle of “same activity, same risk, same regulation” is key to achieve a level playing field for all providers of financial services. This Economic Watch analyses this principle, with a focus on the “same risk” element, and explores proposals on how to put it into practice.