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Tue Mar 1, 2016, 04:15 PM

Argentine consumer confidence plunges 15.6% in February; down almost 25% since November.

The Torcuato Di Tella University Business School's Financial Research Center (CIF) reported that the Index of Consumer Confidence fell in February to 45.6, a 15.6% decline from January and a 24.5% plunge from 60.4 in November.

The report pointed to the sharp run-up in prices since President Mauricio Macri ordered a 40% devaluation on December 17 as the principal cause for the decline in consumer confidence. Macri refuses to publish inflation data; but private estimates projects that inflation will reach 40% this year, up from 25% in 2015.

The drop in confidence was especially severe for purchasing durable goods or real estate, the index for which fell 33.1% last month. Sizable declines were also registered for the other two components in the index: 12.4% less confidence in respondents' personal financial situation, and 9.7% less confidence in macroeconomic conditions.

The index also registered noticeable regional disparities, with respondents outside the Buenos Aires metro area registering a 7.9% decline in confidence; those in Buenos Aires, by 12.4%; and those in predominantly working class Greater Buenos Aires, 20.8%. Indeed, those earning below the median income suffered a decline in confidence of 17.1%; while those earning more income saw confidence fall by 13.3%.

The CIF consumer confidence index, published monthly since March 2001, has averaged 47.3 over the last 15 years, reaching an all time high of 61.0 in January 2007 and a record low of 28.4 in September 2002.

At: https://translate.google.com/translate?hl=en&sl=es&u=http://www.politicargentina.com/notas/201602/11972-fuerte-caida-del-ndice-de-confianza-al-consumidor.html&prev=search

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Reply Argentine consumer confidence plunges 15.6% in February; down almost 25% since November. (Original post)
forest444 Mar 2016 OP
Judi Lynn Mar 2016 #1
bemildred Mar 2016 #2

Response to forest444 (Original post)

Wed Mar 2, 2016, 01:40 AM

1. Macri certainly can't claim there's anyone sabotaging his work. He's doing what the powerful want.

Yet he's bashful about releasing his data. He's probably laughing his gnarly, twisted nose off when there are no cameras around to document it.

[center]



Doing his dance of the seven buttocks



Throwing confetti upon himself. [/center]

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Response to forest444 (Original post)

Wed Mar 2, 2016, 08:09 AM

2. Boy, that Macri is fixing the economy fast. nt

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