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.
Author: Ricardo Aceves, Senior Economist