Mexico: Consumer confidence hits highest reading since November 2021 in July
Consumer confidence came in at 46.2 in July, up from June’s 45.3. July’s result marked the strongest sentiment since November 2021. Despite the uptick, the index remained below the 50-point threshold separating pessimism from optimism among consumers.
July’s rise was driven by improved sentiment regarding the overall economy and consumers’ willingness to make major purchases. The reading bodes well for private spending at the outset of the third quarter; growth in consumer spending has likely been a key driver of the economy so far this year.