Argentina: Consumer sentiment picks up in March but remains dismal
April 20, 2014
Consumer confidence recovered slightly in February but remains at levels previously seen during the financial crisis in 2012. The Universidad Torcuato di Tella (UTDT) consumer confidence index jumped 8.2% over the previous month to 36.2 points. The result marks a pause to the seemingly-unstoppable downward trend in consumer sentiment that has been recorded over the past five months. At the current level, the index remains deeply entrenched in negative territory and very distant from the 50-point threshold that separates optimistic and pessimistic sentiment.
The rise in confidence was broad-based across all categories, with consumers' intentions to buy durable goods marking the largest increase.
LatinFocus panelists see private consumption growing 2.3% this year, which is unchanged from last month's forecast. Next year, panelists expect consumption to expand 3.4%.
Author: Armando Ciccarelli, Head of Data Solutions