Argentina: Consumer confidence drops in December
December 19, 2010
In December, the consumer confidence index published by the Universidad Torcuato di Tella (UTDT) dropped 2.2 points to 53.2 points from 55.4 points in November. The result marked the first drop in the confidence gauge after two consecutive increases. The sub-index related to the country's general economic situation experienced the most sizable decrease. Consumers were less upbeat about prospects for the Argentine economy both in the short term (12 months) and in the long run (3 years). In addition, respondents to the survey were less optimistic about their personal financial situation. Next to deteriorating perceptions of consumers' own financial situation compared to the previous 12 months, expectations related to the financial situation over the following 12 months also worsened, leading to moderating prospects for purchasing durable goods in the months ahead.
Author: Armando Ciccarelli, Head of Data Solutions