Argentina: Consumer sentiment stabilizes in June
July 6, 2016
In June, the Universidad Torcuato di Tella (UTDT) consumer confidence index was stable at the previous month’s 42.7, thus remaining at the lowest level since September 2014. The index remains below the 50-point-threshold separating pessimistic from optimistic sentiment. Confidence among consumers has been negatively affected by the reforms that the Macri administration is undertaking, which have led to massive job cuts and the high rate of inflation.
In June, consumer were less pessimistic regarding their personal finances today compared to a year ago. In addition, in June, the sub-index representing consumers’ willingness to make major purchases improved significantly over May’s figure. However, consumers’ perceptions regarding the country’s economic situation and the perspectives for one and three years ahead deteriorated compared to the previous month’s result.
Author: Dirina Mançellari, Senior Economist