Argentina-Drop in consumer spending.

ARGENTINA- BIG DROP IN COMSUMER RETAIL SHOPPING.

Shopping centres’ revenue fell significantly in February, the Abeceb.com consultancy said in a report that contradicts data released by the state-run statistics bureau (INDEC). The latter recently said revenue had edged up slightly in the same month.

The consultants’ report says shopping mall revenue for February fell by 5.6 percent while INDEC statistics showed an 0.3 increase. "The bureau’s numbers continue to show significant divergence from our own estimates," it explained.

Since 2007, a number of other market observers have also produced market figures contradicting official statistics released by INDEC.

At first the only divergence had to do with the consumer price index (IPC), but gradually other parameters like unemployment, poverty, indigence and economic as well as activity started to put private and official numbers at odds.