Argentina Consumer Confidence

Argentina

Argentina: Consumer sentiment hits six-month high in July

July 22, 2014

The Universidad Torcuato di Tella (UTDT) consumer confidence index rose 2.0% over the previous month to 42.8 points in July. The reading marked the fifth increase and the highest reading so far this year. While the upward trend in consumer confidence continued in July, the index is still firmly entrenched in negative territory and quite far from the 50-point threshold that separates optimistic from pessimistic sentiment.

Consumers’ more positive outlook on their economic expectations in the long-term drove the overall rise in confidence. In addition, households were also more optimistic regarding both their personal economic situations compared to one year ago and their ability to buy durable goods. While the relative stabilization of the peso following its devaluation in February helped boost consumer confidence in recent months, the ongoing conflict with the holdouts seems to have clouded consumers’ short-term outlook for both their personal economic situations and their view on the overall economy.

LatinFocus panelists see private consumption falling 0.5% this year, which is unchanged from last month’s forecast. Next year, panelists expect consumption to expand 1.2%.


Author: Ricard Torné, Head of Economic Research

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Argentina Consumer Confidence July 2014

Note: Monthly consumer confidence index. Values above 50 indicate an optimistic assessment in consumer sentiment while values below 50 indicate a pessimistic assessment.
Source: Universidad Torcuato di Tella (UTDT).


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