Argentina: Consumer sentiment drops to lowest level in eight months
January 23, 2014
In January, the Universidad Torcuato di Tella (UTDT) consumer confidence index fell 5.4% over the previous month to 43.7 points, dropping to the lowest level in eight months. The index has been steadily deteriorating over the course of the last three months. The drop moved consumer sentiment even further below the 50-point threshold that separates pessimism from optimism.
The deterioration mostly reflected households' more pessimistic outlook on their personal financial situations. Nevertheless, consumers' intentions to buy durable goods improved over the previous month.
LatinFocus panelists see total consumption growing 2.3% this year, which is unchanged from last month's forecast. Next year, panelists expect consumption to expand 3.4%.
Author: Armando Ciccarelli, Head of Data Solutions