Mexico: Consumer confidence rises to highest level in over three years
February 3, 2012
In January, the consumer confidence index (ICC, indice de Confianza del Consumidor) rose to 95.4 points from 90.8 points in December, marking the second consecutive monthly improvement. The reading beat market expectations that had the index edging up to 91.3 points. Moreover, at the current level, the index sits just a notch below its three-year peak reached in July and is 3.4% higher than in the same month last year. A month-on-month analysis confirms the strong improvement suggested by the annual figures, as the index expanded 2.6% in seasonally adjusted terms, contrasting the 0.5% decline witnessed in December. The improvement was broad-based, with all sub-components of the index rising over the previous month. In particular, the willingness to purchase durable consumer goods soared for the second month in a row. However, expectations for the households' own future situation were the only component that rose above 100-point threshold that separates optimism from pessimism.