Definition
The Consumer Confidence Index (CCI) measures the level of optimism or pessimism among households regarding their current and future economic situation, as well as overall economic conditions.
The indicator synthesizes perceptions about income, employment, consumption capacity, and macroeconomic expectations, and often anticipates changes in private spending and in the economic cycle.
Analysis
Between 2002 and 2007, the CCI shows a sustained recovery, consistent with the exit from the convertibility crisis, improvements in employment, and real income growth. This period reflects an environment of relatively high confidence.
From 2008 onward, a structural deterioration is observed, associated with the global financial crisis, rising inflation, macroeconomic controls, and a loss of predictability. Confidence remains depressed throughout much of the following decade.
In more recent years, the CCI continues at historically low levels, albeit with cyclical fluctuations. The partial improvement in 2025 suggests an incipient rebuilding of expectations, supported by inflation deceleration and the correction of macroeconomic imbalances, although still without a solid recovery in purchasing power.