Argentina: Consumer confidence drops to lowest level in more than two years
July 24, 2012
In July, the Universidad Torcuato di Tella (UTDT) consumer confidence index dropped 1.8% over the previous month to 43.6 points, which was slower than the 4.4% fall recorded in June but marked nonetheless a second consecutive decrease. As a result, consumer sentiment moved further below the 50-point threshold that separates optimism from pessimism and currently sits at the lowest level since April 2010. Both sub-indices relating to the general economic situation and to the personal economic situation deteriorated compared to the previous month. The largest drop was experienced by households' short-term expectations on the general economic situation (-1.7%). In addition, households' willingness to purchase durable goods deteriorated compared to June.
Author: Armando Ciccarelli, Head of Data Solutions