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Mexico Consumer Confidence August 2023

Mexico: Consumer confidence hits highest reading since March 2019 in August

Consumer confidence came in at 46.7 in August, up from July’s 46.3. August’s result marked the strongest sentiment since March 2019. Despite the uptick, the index remained below the 50-point threshold, pointing to improving—albeit still pessimistic—confidence among consumers.

August’s reading was driven by consumers’ improved sentiment regarding their personal financial conditions, general economic conditions, and their willingness to make major purchases. Improved consumer confidence so far in Q3 should support further sequential growth in private consumption in the quarter, and private consumption is likely to be a key driver of GDP growth over 2023 as a whole.

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