Argentina: Consumer confidence jumps to 18-month high in July, but remains entrenched in pessimistic terrain
The Universidad Torcuato di Tella (UTDT) consumer confidence index surged to 44.2 points in July from 40.6 points in June, marking the best result since January 2018. Therefore, the index moved closer to the 50-point threshold that separates pessimism from optimism among consumers, below which it has been for over a year.
July’s print reflected an improvement in all three sub-components of the index. Consumers’ assessments of their personal finances improved notably, while consumers’ willingness to purchase big-ticket household items also continued to strengthen, although it remained at abysmal levels. Lastly, households’ outlook on the broader short-term macroeconomic situation improved markedly.