Mexico: Consumer confidence rises to six-month high
May 6, 2014
Consumer sentiment improved for the second consecutive month in April according to the INEGI's unadjusted index of consumer confidence. The indicator rose from 88.8 points in March to 90.3 points and reached the highest level since October 2013. The reading was broadly in line with the 90.0 points the market had expected.
Respondents to the April survey were more optimistic regarding both their own economic situations and the country's overall economic situation. In addition, households were more optimistic about the country's future economic situation, although they were not so optimistic regarding their own economic situation, which fell over the previous month. Households were, however, more optimistic 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