Argentina: Consumer sentiment plummets in February
March 9, 2016
The Universidad Torcuato di Tella (UTDT) consumer confidence index plummeted from 54.0 in January to 45.6 in February, thus hitting the lowest level in over a year. As a result of the drop, the index is now below the 50-point-threshold separating optimistic from pessimistic sentiment.
February’s drop reflected deteriorations in all the sub-indices. Consumers were more pessimistic regarding their personal finances today compared to a year ago. The sub-index dropped to its lowest level in two years. Moreover, consumers were less upbeat regarding the country’s economic situation and the perspectives one and three years ahead from now. In addition, in February the sub-index representing consumers’ willingness to make major purchases improved and hit the lowest level in two years.
Author: Dirina Mançellari, Senior Economist