Argentina: Consumers grow more pessimistic in March
March 22, 2019
The Universidad Torcuato di Tella (UTDT) consumer confidence index dropped to 34.8 points in March from 36.0 points in February. Therefore, the index moved further below the 50-point threshold that separates pessimism from optimism among consumers, where it has been for over a year.
March’s print reflected a deterioration in two out of the three sub-components of the index: Consumers’ assessments of their personal finances deteriorated somewhat, while consumers’ assessments of the broader short-term macroeconomic environment worsened to a greater degree. On the other hand, their willingness to purchase big-ticket household items improved, albeit almost imperceptibly.
Argentina Private Consumption Forecast
Panelists surveyed for the LatinFocus Consensus Forecast see private consumption dropping 2.5% in 2019, which is unchanged from last month’s forecast. For 2020, panelists expect private consumption to increase 2.5%.