Argentina: Consumer sentiment reverts to pessimistic territory in November
November 21, 2013
In November, the Universidad Torcuato di Tella (UTDT) consumer confidence index fell 3.8% over the previous month to 49.9 points, after having hit a 20-month high in September. As a consequence of the drop, consumer sentiment rests just below the 50-point threshold that separates pessimism from optimism.
The deterioration was broad-based. Argentinean households were more pessimistic regarding both the general economy and their personal financial situations. Accordingly, the index that tracks intentions to buy durable goods deteriorated over the previous month and dropped to the lowest level in seven months.
LatinFocus panelists see total consumption growing 3.3% this year, which is down 0.1 percentage points from last month's forecast. Next year, panelists expect consumption to expand 3.2%.
Author: Armando Ciccarelli, Head of Data Solutions