In June, the index plummeted 22.8% over the same month in 2007. The expectations fell to a minimum of five years due to political uncertainty in the country.
BUENOS AIRES .- The Argentine consumer confidence fell to a minimum of five years in June to a deterioration of people's expectations amid a tense political climate, according to a private report. The Consumer Confidence Index (CCI) fell 1.8% in June compared to last May and 22.8% compared with June 2007, according to Finance Research Centre (ITC) of the Business School of Universidad Torcuato Di Tella.
This index showed a sharp contraction in the interior of the country (-4.6%), followed by Buenos Aires (-1.2%) and then by the Great Buenos Aires (-0.3%).
It said that the results of Consumer Confidence Index (CCI) based on surveys carried out between 1 and 10 June.
The ICC fell 1.8% compared to May, while the annual decline was 22.8%.
Sandleris Guido, director of the Center for Research in Finance UTDT, said the drop in The Consumer Confidence Index in June "takes the index to its lowest levels of the past five years. The drop in confidence was seen in all regions of the country, but was strongest in the Interior (-4.6%). "
disparate behavior
On the other hand, Sandleris added that the behavior of individual sub-indices were mixed in June. While
Durable and Properties fell 9.5%, Macroeconomic Expectations recovered by 2.4% and Personal Situation showed virtually no changes from the previous month (+0.5%).
Drop in Durable and property sub-index reflects a strong reduction in purchase intent Appliance (-16%), while the intention of buying cars and houses remained virtually unchanged (0.7%).
Finally, the CIF director noted that nationally, "there was an increase in the expectations component that captures the whole are (1.9%), related to the significant recovery in Federal Capital."
However, he concluded, "there was a more pessimistic about the present conditions (-6%). (NA - Reuter).
Source: LaGaceta.com.ar
0 comments:
Post a Comment