Mexico: Consumer confidence edges down in May
June 4, 2012
In May, the consumer confidence index elaborated by the statistical institute (INEGI) dropped to 96.3 points from 97.2 points in April. The reading was broadly in line with market expectations, which had the index falling to 96.5 points. Compared to the same month last year, the index was 7.8% higher, which came in below the 8.3% increase recorded in April. The decline reflected a less upbeat assessment of the current economic situation of both the respondents'own household and the overall economy. In contrast, forward looking components and the willingness to make major purchases edged up compared to the previous month. A month-on-month comparison, however, does not corroborate the decline suggested by the annual data, as consumer sentiment added 0.2% in seasonally adjusted terms, following on a 2.3% rise in April.