Argentina: Consumer sentiment drops further into pessimistic territory in December
December 23, 2013
In December, the Universidad Torcuato di Tella (UTDT) consumer confidence index fell 7.5% over the previous month to 46.2 points, dropping to the lowest level in six months. The drop moved consumer sentiment even further below the 50-point threshold that separates pessimism from optimism.
The deterioration was broad-based. Argentinean households were more pessimistic regarding both the general economy and their personal financial situations. Accordingly, the consumers' intentions to buy durable goods deteriorated over the previous month, reaching an 18-month low.
LatinFocus panelists see total consumption growing 2.3% this year, which is unchanged from last month's forecast. Next year, panelists expect consumption to expand 3.4%.
Author: Armando Ciccarelli, Head of Data Solutions