Argentina: Consumer confidence plunges in December
December 26, 2011
In December, the Universidad Torcuato di Tella (UTDT) consumer confidence index plunged 7.3% to 52.6 points from the 56.7 points recorded in November, marking the largest monthly drop since October 2008. Despite the strong deterioration, however, consumer sentiment remains above the 50-point threshold separating optimism from pessimism. Prospects of a global slowdown and the first signs of cooling of the domestic economy largely affected December's result. Both the sub-index relating to the general economic situation and the personal economic situation sub-component decreased strongly from the previous month's results. Accordingly, households' willingness to purchase durable goods deteriorated notably compared to the previous month.
Author: Armando Ciccarelli, Head of Data Solutions