Argentina: Consumer sentiment drops in September
September 23, 2013
In September, the Universidad Torcuato di Tella (UTDT) consumer confidence index fell 2.8% over the previous month to 48.7 points. Consumer sentiment returned to a position below the 50-point threshold that separates optimism from pessimism, after hitting the 50-point mark last month for the first time in 17 months.
Consumers' outlook on the Argentinean economy fell to a 17-month low. This increase in pessimism, however, was not mirrored in households' willingness to purchase durable goods: the index tracking intentions to buy actually improved over the previous month.
LatinFocus panelists see total consumption growing 3.3% this year, which is down 0.1 percentage points from last month's forecast. Next year, panelists expect consumption to expand 3.2%.
Author: Armando Ciccarelli, Head of Data Solutions