Argentina Consumer & Retail Q4 2018
Argentina's 'mini-crisis', caused by a recent sell-off in the Argentine peso, will weigh on consumer spending over theremainder of 2018. As a result of the weaker exchange rate, inflationary pressures coupled with higher interest rates willcause consumers to prioritise essentials over non-essentials, with imported premium brands most exposed to a cutback inspending. While we expect the country to experience a mild recession in Q2/Q3 2018, we maintain a broadly optimistic consumeroutlook for Argentina from 2019 onwards, as we believe that the sell-off is a market correction, rather than a more worrying reversalin the country's economic recovery.
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