Mexico: Consumer confidence jumps to 14-month high
December 5, 2014
In November, the unadjusted consumer confidence indicator elaborated by INEGI rose to 92.9 points from 90.6 points in October. The reading overshot the 90.0 points the markets had expected and represented the highest level in 14 months. Owing to the monthly increase, the index is now 4.7% higher than it was in the same month last year.
The notable increase in November reflected households’ more positive assessment regarding their current economic situations and their own economic prospects. Meanwhile, while consumers were more upbeat regarding the overall economic prospects, they were more pessimistic about the country’s current economic situation. Consumers also indicated that they were more optimistic regarding their ability to purchase big-ticket items.
On a monthly basis, consumer sentiment increased 3.3% in seasonally-adjusted terms in November, which came in well above the 0.8% rise observed in October.
Author: Ricardo Aceves, Senior Economist