Argentina Consumer Confidence March 2017

Argentina

Argentina: Downbeat consumer sentiment largely unchanged in March

March 23, 2017

In March, the Universidad Torcuato di Tella (UTDT) consumer confidence index rose from an almost two-year-low of 40.7 in February to 41.0 in March. As a result, the index is still well below the 50-point threshold that separates pessimistic from optimistic sentiment. Consumer confidence, particularly among lower-income households, has been negatively affected by the Macri administration’s reforms, which have led to job cuts and a high rate of inflation. These have in turn led to widespread protests, with a general strike set to take place on 6 April.



In March, consumers were more optimistic about their current financial situation compared to one year ago. Their outlook for their future financial situation also improved, albeit from a very low base in February. Households’ assessment of the country’s macroeconomic situation rose slightly in the long-term term in March, while the assessment for the short-term virtually stagnated. Consumer’s willingness to make major purchases continued to decline in March after plunging in February.

Panelists surveyed for the LatinFocus Consensus Forecast see private consumption rising 2.9% in 2017, which is unchanged from last month’s forecast. For 2018, panelists expect private consumption to increase 3.0%.


Author:, Economist

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Argentina Consumer Confidence March 2017

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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