Mexico Consumer Confidence

Mexico

Mexico: Consumer confidence rises for third month in a row

December 4, 2015

The mood among Mexican consumers continued to increase in November. According to the unadjusted index of consumer confidence elaborated by INEGI, the indicator rose from 91.3 in October to 92.5 in November. The reading overshot the 92.0 that the markets had expected, marked a third consecutive increase and reached the highest point since July.

November’s improvement reflected that consumers were more enthusiastic regarding their economic prospects in the next 12 months. Regarding their current economic situation, consumers were as optimistic as they were in October. About the country’s current economic situation, consumers notably showed more optimism; but regarding the country’s economic outlook, consumers were more pessimistic than in the previous month. According to analysts, strong consumer fundamentals—low unemployment, multi-year low inflation and higher nominal wages—are providing a boost to confidence and thus to private consumption.

Panelists participating in the LatinFocus Consensus Forecast expect private consumption to grow 3.0% in 2015, which is up 0.1 percentage points from last month’s projection. For 2016, panelists see private consumption increasing 3.1%, which is unchanged from last month’s forecast.


Author:, Senior Economist

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Mexico Consumer Confidence November 2015

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


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