Mexico: Consumer confidence rises to three-month high
November 6, 2015
The mood among Mexican consumers did not decline at the beginning of the fall. According to the unadjusted index of consumer confidence elaborated by INEGI, the indicator increased from 90.6 in September to 91.3 in October. The reading contrasted the fall to 90.0 that the markets had expected and represented the highest level since July.
October’s increase reflected that consumers were more optimistic regarding their current economic situation and were slightly more enthusiastic regarding their own economic prospects. About the country’s economic situation as well as economic expectations in the next 12 months, consumers notably showed more optimism. According to analysts, strong consumer fundamentals—low unemployment, multi-year low inflation and higher nominal wages—are providing a boost to confidence and thus to private consumption.
Author: Ricardo Aceves, Senior Economist