Mexico Consumer Confidence August 2020

Mexico

Mexico: Consumer confidence increases for third month running in August

September 4, 2020

Consumer confidence continued to climb in August from April’s three-year low when Covid-19 began to take its toll, with the seasonally-adjusted consumer confidence indicator published by the Statistical Institute (INEGI) coming in at 34.6 points, above July’s 34.1 reading.

Households’ assessment over their current and future financial situation improved in August, largely driving the indicator’s increase. Moreover, their ability to purchase big-ticket items strengthened slightly. Meanwhile, consumers’ appraisal over the current state of the economy and general economic environment in the year ahead soured compared to July.

Analysts participating in this month’s LatinFocus Consensus Forecast expect private consumption to contract 8.4% in 2020 and grow 3.8% in 2021.


Author:, Economist

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Mexico Consumer Confidence August 20 20

Note: Consumer Confidence Indicator (ICC, Índice de Confianza del Consumidor).
Source: Mexico National Statistics Institute (INEGI).


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