Argentina Consumer Confidence August 2017

Argentina

Argentina: Consumer sentiment picks up in August to reach a 17-month high

August 24, 2017

In August, the Universidad Torcuato di Tella (UTDT) consumer confidence index rose to 47.6 points from 42.5 points in July, a 17-month high. The index nevertheless remains below the 50-point threshold that separates pessimistic from optimistic sentiment, where it has been firmly entrenched since February 2015. Consumers in August were surveyed before the primary elections on 13 August and were likely reacting in large part to healthy economic activity, which hit a 22-month year-on-year high in June.

The index’s rise in August was led by a strong improvement in consumers’ confidence about the country’s short-term macroeconomic prospects; an improvement in their willingness to make major purchases, particularly of home appliances; and an improvement in their outlook regarding future personal financial situations.

Panelists surveyed for the LatinFocus Consensus Forecast see private consumption rising 2.3% in 2017, which is down 0.2 percentage points from last month’s forecast. For 2018, panelists expect private consumption to increase 2.8%.


Author:, Economist

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