Argentina: Consumer sentiment declines further in November
November 22, 2018
The Universidad Torcuato di Tella (UTDT) consumer confidence index fell to 32.1 points in November from 32.6 points in October, marking the worst reading since September 2002. As a result, the index moved further below the 50-point threshold that separates pessimism from optimism among consumers, where it has been for nearly a year.
November’s print reflected a broad-based decline in all the sub-components of the index: consumers’ assessments of their personal finances continued to dip, as did consumers’ assessments of the broader short-term macroeconomic environment. The drop in these components was reinforced by a significant deterioration in consumers’ willingness to purchase big-ticket household items.
Argentina Private Consumption Forecast
Panelists surveyed for the LatinFocus Consensus Forecast see private consumption dropping 1.1% in 2019, which is down 1.2 percentage points from last month’s forecast. For 2020, panelists expect private consumption to increase 2.0%.