Mexico: Consumer confidence rises in March after hitting 6-month low
April 8, 2015
The unadjusted consumer confidence indicator elaborated by INEGI rose from 90.3 points in February—a six-month low—to 93.1 points in March. The print also overshot the 92.2 points the markets had expected. On an annual basis, the index is 4.8% higher in March.
March’s improvement was broad based. It reflected higher notes in consumers’ perception of their current economic situation, on the country’s current economic situation as well as the country’s economic expectations. Consumers’ own economic prospects were virtually unchanged over the previous month and respondents to the March survey signaled that they are more willing to buy big-ticket items.
On a monthly basis, consumer sentiment rose a seasonally-adjusted 0.1% in in March, which came in below the 0.9% increase registered in February.
Author: Ricardo Aceves, Senior Economist