Mexico: Consumer confidence hits six-month high in June
July 5, 2018
Consumer sentiment rose in June, with the seasonally-adjusted consumer confidence index published by INEGI hitting a half-year high of 88.0 points, up from a revised 87.1 points (previously reported: 87.0 points) in May. June’s print overshot market expectations. Sentiment has been stuck below the 100-point threshold for more than a decade and, in recent months, stubbornly below the long-run average despite a tight labor market and a pickup in wages.
Four of the index’s five components contributed to the improvement in June. Assessments of future improved; views on economic conditions at both the household and national level ticked up. Meanwhile, consumers were less downbeat about current national-level economic conditions and more willing than a month earlier to make big-ticket purchases. On the other hand, households grew more pessimistic about current economic conditions.
Mexico Private Consumption Forecast
Panelists participating in this month’s LatinFocus Consensus Forecast expect private consumption to grow 2.7% in 2018, which is unchanged from last month’s projection. For 2019, the panel sees private consumption expanding 2.6%.