Mexico: Consumer confidence hits six-month high in June
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.