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Argentina Consumer Confidence July 2023

Argentina: Consumer confidence hits highest reading since October 2019 but remains in pessimistic territory in July

The Universidad Torcuato di Tella (UTDT) consumer confidence index came in at 43.6 in July, up from June’s 41.8. July’s result marked the strongest sentiment since October 2019. Despite the uptick, the index remained below the 50-threshold separating pessimism from optimism among consumers.

In July, consumers grew less downbeat regarding personal finances, the general economic situation and purchases of durable goods. Notwithstanding the uptick in consumer confidence, the picture for private spending is downbeat: Our analysts see a deeper year-on-year contraction in private spending in Q3 relative to Q2 amid rising inflation and interest rates.

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