Consumer confidence falls 3.1%

The local Consumer Confidence Index dropped 3.1 percent in September from the previous month.
However, it increased 22 percent year-on-year, according to a report released by the Finance Research Centre (CIF in its Spanish acronym) of the Torcuato di Tella University.

The Consumer Confidence Index showed an assorted performance throughout the country. It fell 6.5 percent in the Greater Buenos Aires area; whereas it rose 1.7 percent in Buenos Aires City and 0.3 percent in the Argentine provinces.

The report also showed macroeconomic expectations, acquisition of durable goods and real estate properties decreased 4.6 percent, 2.7 percent and 1.6 percent respectively.

The consumer confidence index dropped by 5.1 percent in the low income sector, whereas confidence in consumers with highest purchasing power zooms 2 percent in September.