BUENOS AIRES -(Dow Jones)- Argentina’s Torcuato di Tella University said Monday that its closely watched gauge of consumer confidence rose to its highest level in more than four years this month as Argentines felt more comfortable about their personal situation.
The consumer confidence index compiled by the university hit 59.31 in September, up 3.2% from August and a 21.4% increase from September 2010.
The index is at its highest level since the all-time high of 60.97 observed in January 2007.
President Cristina Kirchner looks set to easily win a second term in October, thanks in no small part to the economic prosperity that Argentines have enjoyed during her government.
UTDT, as the university is known, said its measure of consumers’ personal situation rose 14.4% on the year to 62.77, while their feelings about the overall economy were up 20.1% at 59.18.
Consumers’ willingness to buy real estate and durable goods rose 32% on the year to 55.96, and was up nearly 9% from August, according to the university.
At least some of the demand for property and durable goods like cars is a result of consumers trying to hedge against annual inflation that most private sector economists say is anchored well above 20%.
The survey of 1,205 people was conducted from Sep. 1 through Sep. 9 and has a margin of error of 3.5 percentage points.
-By Ken Parks, Dow Jones Newswires