Argentina: Consumers remain deeply pessimistic in June
The Universidad Torcuato di Tella (UTDT) consumer confidence index rose to 39.5 in June from a one-year low of 38.4 in May amid protracted containment measures. However, the index remained entrenched deeply below the 50-threshold that separates optimism from pessimism among consumers, where it has been for over two years.
June’s improvement reflected some limited recovery in consumers’ willingness to purchase big-ticket items, which remained strongly pessimistic nonetheless. On the other hand, deteriorations were recorded in the consumers’ assessments of their personal financial conditions as well as in their outlook on macroeconomic conditions.