Argentina Consumer Confidence June 2020

Argentina

Argentina: Consumers remain deeply pessimistic in June

July 8, 2020

The Universidad Torcuato di Tella (UTDT) consumer confidence index rose to 39.5 in June from a one-year low of 38.4 in May amid protracted containment measures. However, the index remained entrenched deeply below the 50-threshold that separates optimism from pessimism among consumers, where it has been for over two years.

June’s improvement reflected some limited recovery in consumers’ willingness to purchase big-ticket items, which remained strongly pessimistic nonetheless. On the other hand, deteriorations were recorded in the consumers’ assessments of their personal financial conditions as well as in their outlook on macroeconomic conditions.

Panelists surveyed for the LatinFocus Consensus Forecast see private consumption dropping 6.3% in 2020, which is down 4.5 percentage points from last month’s forecast. For 2021, panelists expect private consumption to increase 3.2%.


Author: Massimo Bassetti, Senior Economist

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Argentina Consumer Confidence June 20 20

Note: Monthly consumer confidence index. Values above 50 indicate an optimistic assessment in consumer sentiment while values below 50 indicate a pessimistic assessment.
Source: Universidad Torcuato di Tella (UTDT).


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