Consumer confidence sinks: it drops by 11 points and touches the lowest level in the last 13 months

The consumer confidence index collapsed in July 11.1% compared to the previous month, the Financial Research Center of the University of Torcuato Di Tella reported. This result marks a sharp change in trend, as the index rose 7.7% in June compared to May.

With this setback, the indicator stands at 34.7 points nationwide. To find a lower level, it is necessary to go back to June 2021, when the record was 34.6, between the strong wave of Covid and the escalation of deaths from illness.

“This shows unusual volatility in this indicator it is closely related to the different views by region. In the previous month’s rise, the Capital and Greater Buenos Aires regions had led the increase, and now the fall is led by the Interior, which fell by 15.4% compared to June, when the decline was only 4% in CABA. , 9%. In this way, the interior has shown a much more negative view in recent months, ”the report emphasizes.

The survey published by Di Tella is carried out by Poliarquía Consultores on a universe of 1,018 cases in 40 locations across the country.

The decline in confidence is widespread throughout the country: it falls by 4.9% in CABA, 10.7% in GBA and 15.4% in the internal sector, compared to June.

Also, the general index decreased by 8.2% in one year; 1.3% compared to the pre-Covid-19 pandemic situation; and 8.8% since the beginning of the presidency of the Front of All.

All ICC sub-indices of the UTDT Center for Research in Finance showed monthly decreases: “The predisposition to purchase appliances, houses and cars (Durable Goods and Real Estate) fell by 19.8% compared to the previous month”, after gaining a lot of 12.6% in June.

the subscript Fixed assets and real estate down by 18% in GBA, 29.5% internally, and 9.1% in CABA, again compared to June, while the indicator that assesses the personal situation of the interviewees drops by 10.2% compared to the previous month.

In the perception of consumers, the deterioration in personal finances was significantly more significant compared to that estimated for the macroeconomic scenario: 5.1% compared to June, even if balanced by a decrease of 11.3% in the year-over-year comparison.

The component that measures expectations about what the personal situation of consumers will be like in the future it was down 13% from last month.

“It is important to note that the data anticipated by consumers in July regarding their expectations for the future has reached an all-time low this month, since 2001, when the University of Torcuato Di Tella began compiling the index. ”, Emphasizes the report.

AQ