Argentina Consumer Confidence May 2020

Argentina

Argentina: Consumer confidence falls deeper into pessimistic terrain in May amid containment measures

June 10, 2020

The Universidad Torcuato di Tella (UTDT) consumer confidence index fell to a one-year low of 38.4 in May from 39.3 in April amid containment measures. Therefore, the index moved further below the 50-threshold that separates optimism from pessimism among consumers, where it has been for over two years.

May’s print reflected a significant deterioration in the consumers’ assessments of their personal financial conditions compared to one year ago as well in their expectations on their personal financial situation in one-year view. Moreover, their outlook on both the short- and longer-term macroeconomic conditions worsened. On the other hand, consumers’ willingness to purchase big-ticket items recovered some lost ground.

Panelists surveyed for the LatinFocus Consensus Forecast see private consumption dropping 6.3% in 2020, which is down 4.5 percentage points from last month’s forecast. For 2021, panelists expect private consumption to increase 3.2%.


Author: Massimo Bassetti, Senior Economist

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Argentina Consumer Confidence May 20 20

Note: Monthly consumer confidence index. Values above 50 indicate an optimistic assessment in consumer sentiment while values below 50 indicate a pessimistic assessment.
Source: Universidad Torcuato di Tella (UTDT).


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