Argentina: Consumer confidence remains on downward trajectory
September 24, 2012
In September, the Universidad Torcuato di Tella (UTDT) consumer confidence index dropped 1.1% over the previous month to 42.3 points, which was slightly up from the 1.9% fall recorded in August but marked, nonetheless, a fourth consecutive decrease. As a result, consumer sentiment moved further below the 50-point threshold that separates optimism from pessimism and currently sits at the lowest level observed since March 2010. The result was driven by a deterioration of the sub-index relating to the general economic situation, while the sub-index related to the personal economic situation improved compared to the previous month. The largest drop was experienced by households' long-term expectations (3 years) on the general economic situation (-7.3% month-on-month). Mirroring the overall negative reading, households' willingness to purchase durable goods deteriorated compared to August.
Author: Armando Ciccarelli, Head of Data Solutions