Argentina: Consumer sentiment soars to highest level in more than one year
August 21, 2013
In August, the Universidad Torcuato di Tella (UTDT) consumer confidence index rose 5.4% over the previous month to 50.0 points, its highest level in 17 months. As a result of the increase, consumer sentiment now rests on the 50-point threshold that separates optimism from pessimism.
Households are more optimistic about the outlook on the Argentinean economy; the sub-index related to the situation of the general economy soared to its highest level in 15 months. However, the increased optimism was not reflected in an improvement in households' willingness to purchase durable goods, which fell to the lowest level in four months.
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