BUENOS AIRES (Dow Jones)–Argentina’s respected Torcuato di Tella University said Monday that its closely watched gauge of consumer confidence eased in October, with minor declines noted in how Argentines view their personal situation and the economy.
The consumer confidence index compiled by the university fell 2.7% on the month to 57.68 in October, though it was still 15.2% higher from October 2010.
The index hit an all time high of 60.97 in January 2007.
The closely watched index was compiled between Sept. 30 and Oct. 14, before Sunday’s presidential vote in which President Cristina Kirchner was re-elected by a landslide.
Kirchner also locked in control of both houses of Congress after voters rewarded her for years of brisk economic growth.
UTDT, as the university is known, said its measure of consumers’ personal situation rose 9.9% on the year to 60.59, but was down 3.5% from September.
Their feelings about the overall economy rose 11.6% on the year to 55.51, but retreated 6.2% from the previous month.
Consumers’ willingness to buy real estate and durable goods increased 25.8% on the year and 1.8% on the month to 56.94, 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 1,208 people had a margin of error of 3.5 percentage points.
-By Shane Romig, Dow Jones Newswires; 54-11-4103-6738; shane.romig@dowjones.com
Source: /online.wsj.com