Argentina's UTDT Consumer Confidence Index Falls 12.7% In April
First Published Monday, 23rd April 2012 10:37 pm - © 2012 Dow Jones
BUENOS AIRES -(Dow Jones)- A closely watched gauge of consumer confidence in Argentina fell to a two-year low in April, according to a report Thursday by Torcuato di Tella University.
UTDT, as the university is known, said consumer confidence declined across all income segments and in all regions of the country.
Its consumer confidence index fell 12.7% on the month to 43.83, and was down 19.5% from April 2011. It was the index's lowest level since April 2010.
The index hit an all-time high of 60.97 in January 2007.
The Central Bank of Argentina's latest estimate puts economic growth at 6% this year, after it expanded 8.9% last year and 9.2% in 2010. The economy faces headwinds from import and foreign exchange controls that have disrupted the real-estate market and starved some businesses of badly needed inputs. Another year of double-digit inflation that is widely believed to be running between 20% and 25% is also expected to weigh on growth.
UTDT said its measure of consumers' personal situation fell to 50.76, an 8% decrease from March and 14% lower than April 2011.
Consumers' outlook for the economy fell 15.8% on the month to 39.12, and was down 28.7% from a year ago.
Argentines' willingness to buy real estate and durable goods fell 15.1% from March to 41.63, and was 15.6% lower from a year ago, according to the university.
The survey of 1,203 people was conducted April 1-11 and has a margin of error of 3.5 percentage points.