Argentina: Consumer confidence falls in August, remaining entrenched in pessimistic terrain
August 23, 2019
The Universidad Torcuato di Tella (UTDT) consumer confidence index fell to 41.9 points in August from 44.2 points in July, which had marked the best result since January 2018. Thus, the index moved further below the 50-point threshold that separates optimism from pessimism among consumers, where it has been for nearly two years.
August’s print reflected a deterioration across all three sub-components of the index. Consumers’ outlook on the broader short-term macroeconomic situation and willingness to purchase big-ticket household items worsened markedly from July, with the latter hovering at abysmal levels. Meanwhile, households’ assessment over their personal financial situation weakened only slightly.
Author: Javier Colato, Economist