Argentina: Consumer sentiment rebounds in June
June 20, 2013
In June, the Universidad Torcuato di Tella (UTDT) consumer confidence index rose 6.8% over the previous month to 44.5 points. The result contrasted the 5.5% drop recorded in May, when the index fell to its lowest level in more than three years. Despite picking up in June, consumer sentiment remains well below the 50-point threshold that separates optimism from pessimism.
The improvement was broad-based, but was mostly driven by households' more optimistic expectations regarding the general economy in the short run (12 months), which soared to the highest level in almost three years. In contrast, households' willingness to purchase durable goods deteriorated compared to May.
LatinFocus panellists see total consumption growing 3.3% this year, which is down 0.1 percentage points from last month's forecast. Next year, panellists expect consumption to expand 3.2%.
Author: Armando Ciccarelli, Head of Data Solutions