Argentina: Consumer confidence plunges in February
February 27, 2012
In February, the Universidad Torcuato di Tella (UTDT) consumer confidence index plunged 8.2% over the previous month to 52.6 points, marking the largest monthly decline since October 2008. With the February reading, consumer sentiment edged closer to the 50-point threshold that separates optimism from pessimism. Both sub-indices relating to the general economic situation and to the personal economic situation deteriorated compared to the previous month's results. The largest drop was experienced by household's short-term expectations on the Argentinean economy (-12.0%), as first signs of cooling begin to surface. Against this backdrop, households' willingness to purchase durable goods also decreased notably compared to January.
Author: Armando Ciccarelli, Head of Data Solutions