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.
Author: Ricardo Aceves, Senior Economist