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Consumer confidence posted its biggest monthly gain of the year amid deflation, the central bank reported. University of Torcuato di Terra.
The indicator compiled by the research institute increased by 6.03% in August. Based on data collected from the 1st to the 9th of this month.
“This exceeds the previous record for the highest monthly change this year, which was 5.02% in July,” the report said.
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Among the sub-indices, personal conditions rose 4.72% month-on-month, macroeconomic conditions rose 3.47% month-on-month, and durable goods and real estate rose 15.01% month-on-month.
The work details that “at the regional level, the index increased by 6.26% in the interior of the country, 2.27% in the Greater Buenos Aires area and 18.33% in the Autonomous City of Buenos Aires.”
“As in July, the increase in current conditions (10.83%) was higher than future expectations (3.78%),” he added.
Likewise, he pointed out “Unlike in July, this month the confidence of high-income households increased more (6.84%) than that of low-income households (1.17%). – 2.55% and 9.11% in July –
Since bottoming out in January 2024, the CCI has risen 16.46%. Year-on-year, the CCI is still 5.92% lower than in August 2023.
The number of low-income households decreased by 2.25% year-on-year, while the number of high-income households decreased by 9.27%.
Confidence Index by Region in August
From a regional perspective, the CCI for August reports positive monthly changes, although there are differences. In the Interior, the CCI increased by 6.26%, with Greater Buenos Aires up 2.27%, with the city of Buenos Aires recording the largest increase of 18.33%. In July, the Greater Bay Area and Central Asia grew by 11.40% and 0.96%, respectively, while the Interior contracted by 1.53%. If we look at the cumulative figure over the year, the CCI for the Interior continues to show the greatest improvement, with a year-on-year change of 7.87%. Compared to July, both CABA and GBA saw a decrease (6.87% and 13.48%, respectively).
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