Mexico Consumer Confidence

Mexico

Mexico: Consumer confidence improved slightly in May

June 5, 2015

Mexican consumers became slightly more confident in May. The unadjusted index of consumer confidence published by INEGI rose to 92.0 points in May from April’s 91.3 points. Despite the improvement, the reading fell short of the 92.2 the markets had expected. On a monthly basis, the index rose a seasonally-adjusted 0.5% in May, which contrasted the 2.0% drop observed in April.

May’s improvement in consumer sentiment was not that exciting. Consumers’ opinions regarding their current economic conditions remained virtually unchanged compared to the previous month. Their expectations, however, improved somewhat in May compared to the previous month. The country’s current economic situation and economic prospects improved marginally over the previous month. Moreover, Mexican households signaled to be more willing to buy big-ticket items.

LatinFocus Consensus Forecast panelists expect private consumption to grow 3.4% in 2015, which is down 0.1 percentage points from last month’s projections. For 2016, the panel sees private consumption expanding 3.6%.


Author:, Senior Economist

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Mexico Consumer Confidence May 2015

Note: Consumer Confidence Index (ICC, Indicador de Confianza del Consumidor). January 2003=100.
Source: Mexico National Statistics Institute (INEGI).


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