Mexico: Consumer confidence rises to over one-year high in May
June 3, 2021
Consumer confidence came in at 42.7 in May, up from April's 42.4. May's result marked the strongest sentiment since February 2020, and came amid an ebbing pandemic domestically and surging remittances. The uptick came on improved expectations for households’ financial situation and the general economic situation over the next twelve months. Taken together, consumer confidence readings for April and May bode well for private spending in Q2.Panelists participating in this month’s LatinFocus Consensus Forecast project private consumption to increase 5.3% in 2021, which is up 0.2 percentage points from last month’s forecast, and 3.4% in 2022.