Argentina: Consumer sentiment falls in March
March 21, 2013
In March, the Universidad Torcuato di Tella (UTDT) consumer confidence index fell 1.5% over the previous month to 46.9 points. The expansion contrasted the 1.6% rise recorded in February and marked the first deterioration after a streak of three consecutive rises. As a result, consumer sentiment moved away from the 50-point threshold that separates optimism from pessimism.
The deterioration 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 February.
LatinFocus panellists see total consumption growing 3.7% this year, which is down 0.1 percentage points from last month's forecast. Next year, panellists expect consumption to expand 3.3%.
Author: Armando Ciccarelli, Head of Data Solutions