Mexico: Consumer confidence falls in January from 15-month high in December
February 6, 2015
The unadjusted consumer confidence indicator published by INEGI fell from a 15-month-high of 93.6 points in December to 91.1 points in January. The drop also exceeded the fall to 93.0 points the market had expected. Despite the monthly fall, the index is 7.8% higher than in the same month last year.
January’s drop reflected a broad-based deterioration in consumers’ sentiment. Consumers were less optimistic regarding their current economic situation and more pessimistic about the country’s current economic situation. Households also indicated they were less upbeat regarding their own economic prospects and their propensity to buy big-ticket items. The silver line of the survey was the improvement registered in consumers’ expectations for the country’s economy.
On a monthly basis, consumer sentiment fell 1.0% in seasonally-adjusted terms in January, which followed the 1.9% drop observed in December.
Author: Ricardo Aceves, Senior Economist