Argentina: Consumers turn slightly more pessimistic in July
August 7, 2020
The Universidad Torcuato di Tella (UTDT) consumer confidence index edged down from 39.5 in June to 38.2 in July, the lowest reading since May 2019. Thus, the index fell further below the 50-threshold that separates optimism from pessimism among consumers, where it has been for over two years.
July’s deterioration reflected consumers’ increased pessimism over their current and future financial situation, and over general economic conditions ahead. That said, households’ willingness to purchase big ticket items strengthened in the month, albeit slightly.
Author: Javier Colato, Economist