Argentina: Consumer sentiment rises in February
February 21, 2013
In February, the Universidad Torcuato di Tella (UTDT) consumer confidence index rose 1.6% over the previous month to 47.6 points. The expansion followed the 0.9% rise recorded in January and marked a third consecutive increase in the index. As a result, consumer sentiment continues to edge closer to the 50-point threshold that separates optimism from pessimism.
The improvement was driven by households' more optimistic expectations regarding the general economy in the short run (12 months). Against this backdrop, households' willingness to purchase durable goods also improved compared to December.
FocusEconomics Consensus Forecast panellists see total consumption growing 3.7% this year, which is down 0.1 percentage points from last month's forecast. Next year, panellists expect consumption to expand 3.3%, which is unchanged from last month's forecast.
Author: Armando Ciccarelli, Head of Data Solutions