Mexico: Consumer confidence edges down in October
November 5, 2014
In October, the unadjusted consumer confidence indicator elaborated by INEGI inched down to 90.6 points from 91.8 points in September. The decrease also undershot the 91.2 points the markets had expected and lost part of the ground gained in September, when the index had reached the highest level in one year. Owing to the monthly decline, the index is 0.7% lower than in the same month last year.
The slight drop in October reflected respondents’ more negative assessment regarding their own economic expectations and the country’s economic prospects. Meanwhile, although consumers were more optimistic about their own current economic situation, they were less upbeat about the overall current economic situation in the country. Moreover, households were slightly more pessimistic regarding their ability to buy big-ticket items compared to the previous month.
On a monthly basis, consumer sentiment increased 0.7% in seasonally adjusted terms in October, which came in below the 2.4% rise registered in September.
Author: Ricardo Aceves, Senior Economist