Mexico Consumer Confidence

Mexico

Mexico: Consumer confidence falls for second consecutive month in February, hits six-month low

March 6, 2015

The unadjusted consumer confidence indicator published by INEGI fell from 91.1 points in January to 90.3 points in February. The reading also undershot the 91.0 points the markets had expected. Despite the monthly fall, the index is 6.8% higher than in the same month last year.

February’s deterioration in consumers’ confidence reflected a broad-based drop. Households were more pessimistic regarding their current economic situation. In addition, consumers were less optimistic regarding their economic expectations. Moreover, respondents to the February survey reported more pessimism regarding the country’s overall economic situation as well as the country’s economic prospects. The silver line of the survey in February was the improvement observed in consumers’ willingness to buy big-ticket items.

On a monthly basis, consumer sentiment rose a seasonally-adjusted 0.9% in in February, which contrasted the 1.0% drop observed in January.

LatinFocus Consensus Forecast panelists expect private consumption to grow 3.4% in 2015, which is down 0.1 percentage points from last month’s projections. For 2016, the panel sees private consumption expanding 3.6%.


Author:, Senior Economist

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Mexico Consumer Confidence February 2015

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


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