New Market Research Report: Venezuela Food & Drink Report Q3 2013
We have long expected real private consumption to deteriorate in Venezuela during 2013, and there are early signs of this already occurring. Indeed, rising inflationary pressure, driven by the recent currency devaluation, have seen a significant slowdown in real credit growth and taken a toll on real wages. Both dynamics point towards a slowdown in real household spending. Real private consumption growth in Venezuela is forecast to slow from 7.0% in 2012 to 2.0% in 2013.
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