The Consumer Confidence Index (ICC) fell 0.3 points in January. It was left with a score of 51.1 and stayed on the edge within the zone of moderate optimism (above 50 points), where it is located since October last year. Compared to the same month in 2021, the index was 3.5 points higher.
Among the three subscripts that make it up, two out of three fell compared to December. “This reaction could be due to the moderation of the optimism presented in the previous month and to an increase again in the cases of COVID-19, reaching new maximums of daily cases,” explained the official. report prepared by the Chair of Economic Confidence of the UCU and Equipment.
The document indicated that the fall “does not fully reverse the increase registered in December, allowing the index to remain within the zone of moderate optimism.”
The ICC registered an improvement in the personal economic situation and a setback in the economic situation of the country and the predisposition to purchase durable goods.
The personal economic situation improved 6.3 points and had the highest score (58.4) since February 2020. “Within its components (current personal economic situation and one year), both increased, but the improvement was mainly driven by the first component. The subindex that reflects the current personal financial situationmoved by expectations of a more immediate nature, it leaves behind the score achieved in December, which was the lowest since the Index was measured, with an increase of more than 10 points. This variation could be due to the optimism associated with the beginning of the year, holidays, etc. The second subindex also increased, although to a lesser extent,” the document explained.
On the other hand, the indicator of the country’s economic situation fell. However, its two components (economic situation of the country in one and three years) worsened less than they rose in December.
Finally, the predisposition to purchase durable goods also decreased and “it continues to resemble pre-pandemic levels. The components of the subindex both decreased (household appliances, and automobiles and homes), although in different proportions, with the former being the ones that suffered the greatest impact,” the report said.
Uruguay, the most trusted in the region
The countries evaluated in the region had different results. Argentina, Brazil and Chile are quite close to each other, while Uruguay is well above.
While the country is in the zone of moderate optimism (between 50 and 60 points), Argentina is located on the border between moderate pessimism (between 40 and 50 points) and reasonable pessimism (less than 40 points) and Brazil and Chile continues to be positioned at the level of acceptable pessimism (less than 40 points), the document detailed.
