Wages and consumer confidence improve, but is it too late?

Javier Milei’s government is seeking to reassure markets amid growing concerns that an economic recession may be just around the corner , while investors are increasingly focused on the libertarian president’s electoral prospects. Against this backdrop, two indicators released in recent days have helped revive optimism, at least to some extent. First, the Consumer Confidence Index (ICC), compiled by Torcuato Di Tella University, rose 0.8% month-on-month in October, following a 2.4% increase in September. Regionally, the improvement was driven entirely by the City of Buenos Aires, where the…