Mexico: Consumer confidence rises to its highest level in four years
May 4, 2012
In April, the consumer confidence index elaborated by the statistical institute (INEGI) jumped to 97.2 points from 93.4 points in March. The reading represents the highest level in four years and overshot market expectations that had the index edging up to 93.7 points. Building on the monthly increase, consumer sentiment now sits only 2.8 points below the 100-point threshold that separates optimism from pessimism. At the current level, the index is 8.3% higher than in the same month last year and, well above the 1.9% increase seen in March. Confidence improved in all the five sub-categories that compose the index. The highest increase was observed in the willingness to make major purchases, which surged 22.5% (March: +3.9% year-on-year). A month-on-month comparison corroborates the improvement suggested by the annual data, as consumer sentiment added 2.3% in seasonally adjusted terms, which exceeded the 0.8% increase observed in March.