Argentina: Consumer sentiment declines at the beginning of the year
The Universidad Torcuato di Tella (UTDT) consumer confidence index dropped to 33.1 points in January from 36.0 points in December—which had marked the best reading in four months. Consequently, the index moved further below the 50-point threshold that separates pessimism from optimism among consumers, where it has been for over a year.
January’s print reflected a deterioration in two out of the three sub-components of the index: Consumers’ assessments of their personal finances deteriorated notably, as did consumers’ assessments of the broader short-term macroeconomic environment. On the other hand, their willingness to purchase big-ticket household items improved.