Argentina: Consumer sentiment plummets to over four-year low in May
May 25, 2018
The Universidad Torcuato di Tella (UTDT) consumer confidence index dropped from 40.1 points in April to 36.1 points in May. The index, which recorded its worst reading since February 2014, is below the 50-point threshold that separates pessimistic from optimistic sentiment among consumers, where it has been almost uninterruptedly since January 2016.
May’s print reflected an across-the-board deterioration in all components of the index and in all four geographical areas surveyed. Willingness to purchase durable goods and big-ticket household items (appliances, cars and houses) was the component that recorded the largest month-on-month drop. It was followed by consumers’ view on their personal financial situation and their view on Argentina’s macroeconomic outlook. Assessments of current and future economic conditions deteriorated as well.