Mexico Consumer Confidence

Mexico

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.

Panelists participating in the LatinFocus Consensus Forecast expect private consumption to grow 3.4% in 2015, which is down 0.1 percentage points from last month’s projections. For 2016, the panel sees private consumption expanding 3.6%.


Author:, Senior Economist

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Mexico Consumer Confidence October 2015

Note: Consumer Confidence Index (ICC, Indicador de Confianza del Consumidor). January 2003=100.
Source: Mexico National Statistics Institute (INEGI).


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