Mexico Consumer Confidence November 2016

Mexico

Mexico: Consumer confidence edges down in November

December 6, 2016

In November, the unadjusted index of consumer confidence produced by INEGI fell to 84.4 from 85.0 in October. Adjusted for seasonal factors, Mexican consumer confidence fell 0.8% from the previous month, which contrasted the increase seen in October.

As a result of the mild fall, consumer confidence remains depressed at a historically low level. The low headline figure continues to reflect Mexican households’ disenchantment with both their own economic situation and the country’s current economic situation. The sub-components of the index fell almost across the board this month, with more upbeat sentiment seen only in regard to the current economic situation for both households and the country.

Panelists participating in this month’s LatinFocus Consensus Forecast expect private consumption to grow 2.7% in 2016, which is unchanged from last month’s projection. For 2017, the panel sees private consumption expanding 2.4%, which is down 0.4 percentage points from last month’s projection.


Author: Angela Bouzanis, Senior Economist

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Mexico Consumer Confidence November 2016

Note: Consumer Confidence Index (ICC, Indicador de Confianza del Consumidor). January 2003=100.
Source: Mexico National Statistics Institute (INEGI).


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