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.