Argentina: Consumer sentiment plummets in February
February 23, 2017
In February, the Universidad Torcuato di Tella (UTDT) consumer confidence index declined from 44.5 in January to 40.7 in February. The print marked the lowest level since May 2014. As a result, the index is falling further below the 50-point threshold separating pessimistic from optimistic sentiment. Confidence among consumers has been negatively affected by the Macri Administration’s reforms, which have led to job cuts and a high rate of inflation.
In February, consumers were more pessimistic about their current economic situation compared to one year ago. Their outlook for their future economic situation also deteriorated markedly. Households’ assessment of the country’s macroeconomic situation deteriorated in both the short-term and in the long-term term in February. Consumer’s willingness to make major purchases declined to a one-year low in the same month.