Argentina: Upward trend in consumer sentiment continues in June
June 24, 2014
The Universidad Torcuato di Tella (UTDT) consumer confidence index rose 10.0% over the previous month to 41.9 points in June. The reading marked the fourth consecutive increase and the highest level so far this year. While the recovery in consumer confidence continued in June, the index is still firmly entrenched in negative territory and quite far from the 50-point threshold that separates optimistic from pessimistic sentiment.
Consumers’ more positive outlook on their economic expectations in the short-term drove the overall rise in confidence. That said, consumers were also more optimistic regarding both their personal economic situation and their ability to buy durable goods. The relative stabilization of the peso following its devaluation in February bodes well for an improvement in consumer spending and contributed to the aforementioned increases.