Argentina: Consumer sentiment deteriorates in November
November 24, 2016
In November, the Universidad Torcuato di Tella (UTDT) consumer confidence index deteriorated following two consecutive improvements. The index fell from last month’s 46.0 to 43.9 in November. As a result, the index remains below the 50-point threshold separating pessimistic from optimistic sentiment. Confidence among consumers has been negatively affected by the reforms that the Macri administration is undertaking, which have led to job cuts and a high rate of inflation.
In November, consumers were much more pessimistic about the country’s macroeconomic situation in one and three years. Households’ assessment of their current economic situation improved marginally compared to one year ago, while their perspectives for the near future declined. Consumer’s willingness to make major purchases also deteriorated.