Mexico: Consumer confidence softens in March
April 3, 2012
In March, the consumer confidence index elaborated by the statistical institute (INEGI) edged down to 93.4 points from 93.6 points in February. The reading came in a notch below market expectations that had consumer sentiment rising to 94.0 points. At the current level, consumer sentiment remains below the 100-point threshold that separates optimism from pessimism. That said, the index was 1.9% higher than in the same month last year and up from the 1.5% increase seen in February. Sentiment improved in four out of the five sub-categories that compose the index, especially regarding the current state of the overall economy, which rose 5.9% over the same month last year. Compared to the previous month, consumer sentiment dropped 0.1% in seasonally adjusted terms, which mirrored the decrease observed in February.