Mexico: Consumer confidence dropped in September for second month in a row
October 4, 2011
In September, the consumer confidence index (ICC, indice de Confianza del Consumidor) dropped one full point to 92.4 points. The print fell short of market expectations that had the index at 93.0 points. Moreover, with the September drop, consumer confidence fell further below the 100-point threshold that separates optimism from pessimism. A month-on-month analysis corroborates the deterioration in consumer sentiment, as the ICC dropped 1.5% in seasonally adjusted terms over the previous month. The decline was broad-based, as all sub-components fell with the exception of consumers' willingness to purchase durable consumer goods. That said, the drop was led by a more pessimistic assessment of the current state of the overall economy compared to a year ago.