Argentina: Consumer sentiment rises to highest level in five months
July 22, 2013
In July, the Universidad Torcuato di Tella (UTDT) consumer confidence index rose 6.7% over the previous month to 47.5 points., the index its highest level in five months. In June, consumer confidence had increased by almost the same amount. Despite the sharp rise over the last two months, confidence still remains below the 50-point threshold that separates optimism from pessimism.
The monthly Personal Economic Situation sub-index soared to its highest level in nearly three years, indicating that households are more optimistic about their personal financial situation. The increasing optimism is also reflected in an improvement in households' willingness to purchase durable goods, which rose to the highest level since January 2012.
LatinFocus panellists see total consumption growing 3.3% this year, which is down 0.1 percentage points from last month's forecast. Next year, panellists expect consumption to expand 3.2%.
Author: Armando Ciccarelli, Head of Data Solutions