Consumer spending still isn’t picking up, according to the latest private surveys, casting doubt on the economic recovery President Javier Milei has been promising for the months ahead.

Retail sales fell 3.2% year-on-year in April and were down 1.3% from the previous month, according to a survey released by the Argentine Confederation of Medium-Sized Businesses (CAME). Through the first four months of the year, sales are running 3.5% below the same period last year.

“Activity leaned toward essentials and seasonal items, with shoppers driven by the hunt for financing and discounts,” CAME said.

Pharmacies were the only category to grow year-on-year, posting a 6.1% rise. “Because these are essential goods, transactions kept flowing even as price lists were updated,” the business chamber said.

Sales fell across most other categories: housewares and home décor (-12.3%), perfumery (-7.2%), and hardware, electrical supplies and construction materials (-4.2%). 

Textiles........

© Buenos Aires Herald