Argentina: Consumer confidence rises to highest level in more than three years
November 20, 2010
In November, the consumer confidence index published by the Universidad Torcuato di Tella (UTDT) rose 5.3 points to 55.4 points from 50.1 points in October. At the current level, the consumer sentiment gauge is at its highest level since March 2007. The sub-index related to the country's general economic situation experienced the most sizable increase in November, as consumers are increasingly optimistic about the 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 more optimistic about their personal financial situation. In fact, consumers view of their own situation compared to the previous 12 months improved. In addition, consumers also expected an improvement in their finances in the following 12 months. The improvement is likely to buttress purchases of durable goods in the months ahead.
Author: Armando Ciccarelli, Head of Data Solutions