Mexico: Consumer confidence hits joint-highest reading since February 2019 in September
Consumer confidence was stable at 46.8 in September. September’s result marked the joint-strongest sentiment since February 2019. That said, the index remained below the 50-point threshold, signaling that consumers were broadly pessimistic.
In September, consumers grew more downbeat about the 12-month outlook but more upbeat about current conditions and their willingness to make major purchases.
Improved consumer sentiment should have supported another strong expansion in private spending in the third quarter; private spending is also forecast to be a key growth driver over 2023 as a whole.