Argentina Consumer Confidence November 2016


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.

Panelists surveyed for the LatinFocus Consensus Forecast see private consumption falling 0.8% in 2016, which is unchanged from last month’s forecast. For 2017, panelists expect private consumption to increase 3.2%, which is also unchanged from last month’s estimate.

Author: Ricard Torné, Lead Economist

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Argentina Consumer Confidence Chart

Argentina Consumer Confidence November 2016

Note: Monthly consumer confidence index. Values above 50 indicate an optimistic assessment in consumer sentiment while values below 50 indicate a pessimistic assessment.
Source: Universidad Torcuato di Tella (UTDT).

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