Argentina: Consumer sentiment gains ground in February

The Universidad Torcuato di Tella (UTDT) consumer confidence index rose to 36.0 points in February from 33.1 points in January. However, the index remained below the 50-point threshold that separates pessimism from optimism among consumers, where it has been for over a year.

February’s print reflected an improvement in two out of the three sub-components of the index: Consumers’ assessments of their personal finances improved notably, as did consumers’ assessments of the broader short-term macroeconomic environment. On the other hand, their willingness to purchase big-ticket household items cooled.

Argentina Private Consumption Forecast

Panelists surveyed for the LatinFocus Consensus Forecast see private consumption dropping 1.1% in 2019, which is down 1.2 percentage points from last month’s forecast. For 2020, panelists expect private consumption to increase 2.0%.