Argentina: Consumer sentiment drops sharply in April
April 22, 2013
In April, the Universidad Torcuato di Tella (UTDT) consumer confidence index fell 6.1% over the previous month to 44.1 points. The result followed the 1.5% drop recorded in March and marked the largest decline in one year. As a result, consumer sentiment moved further below the 50-point threshold that separates optimism from pessimism.
The deterioration was broad-based and was driven, in particular, by households' more pessimistic expectations regarding the general economy in the short run (12 months). Against this backdrop, households' willingness to purchase durable goods also deteriorated compared to March.
LatinFocus panellists see total consumption growing 3.3% this year, which is down 0.1 percentage points from last month's forecast. Next year, panellists expect consumption to expand 3.2%.
Author: Armando Ciccarelli, Head of Data Solutions