Argentina: Consumer confidence drops for third consecutive month
August 23, 2012
In August, the Universidad Torcuato di Tella (UTDT) consumer confidence index dropped 1.9% over the previous month to 42.7 points, which was slightly down from the 1.8% fall recorded in July and marked a third consecutive decrease. As a result, consumer sentiment moved further below the 50-point threshold that separates optimism from pessimism and currently sits at the lowest level since March 2010. Both sub-indices relating to the general economic situation and to the personal economic situation deteriorated compared to the previous month. The largest drop was experienced by households' short-term expectations on the general economic situation (-4.7% month-on-month). Despite the overall negative reading, households' willingness to purchase durable goods improved compared to July.
Author: Armando Ciccarelli, Head of Data Solutions