Mexico: Consumer confidence rises notably in March
April 3, 2014
Sentiment among consumers improved markedly in March, according to the INEGI's unadjusted index of consumer confidence. The indicator climbed from 84.5 points in February to 88.8 points, which marked the highest level since December 2013. The reading overshot the 85.5 points the market had expected.
March's better-than-expected result showed that households were more optimistic regarding both their own economic situation and their economic prospects. In addition, consumers reported that they were slightly more optimistic about the country's overall economic situation and its economic prospects. Moreover, respondents to the March survey reported more optimism regarding their ability to buy big-ticket items.
LatinFocus Consensus Forecast panelists expect private consumption to grow 3.7% in 2014, which is unchanged from last month's projection. For 2015, the panel sees private consumption expanding 3.5%.
Author: Ricardo Aceves, Senior Economist