The Consumer Confidence Index showed an improvement of 8.8% in October, driven by greater optimism in the short term and a notable increase among lower-income households, although a drop persists in the year-on-year comparison.
The Finance Research Center of the Business School of the Torcuato Di Tella University presented the results of the Consumer Confidence Index. This month the surveys were carried out between the 2nd and the 15th.
In this way, “in October the CCI rose 8.8% compared to September, in interannual terms there is a drop of 5.96%,” the document states.
Analysis of the report
“In October, the Consumer Confidence Index (CCI) resumed the upward path that has been recorded since February of this year. It rose 8.8% compared to September, reversing the 5.92% drop in September. The ICC stands at 42.42, and it is the highest value recorded this year,” explained Sebastián Auguste, Director of the UTDT Finance Research Center.
And he added that: “Compared to the floor of January 2024, the index is 19.15% higher in October, but in the interannual comparison it is still 5.96% compared to October 2023, although compared to October 2022 is 19.0% up.”
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Expansion
Finally, he indicated that, “the increase in Consumer Confidence in October is generalized, by regions, subindexes and income levels, but much more marked in lower-income households.”
“By subindexes, Durable Goods and Real Estate present the greatest positive monthly variation, with an increase of 14.7%, followed by the Personal Situation with 8.1%, and the Macroeconomic Situation, which increases by 6.5%.”
Source: Ambito
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