Mexico: Consumer confidence stable for the first time in six months
March 5, 2014
Sentiment among consumers finally stabilized in February after six consecutive months of decline, according to the INEGI's unadjusted index of consumer confidence. The indicator stabilized at the 84.5 points observed in January, which had marked the lowest level in more than three years. The subdued reading undershot the 85.0 points the market had expected. February's result showed that households were slightly more optimistic regarding both the current national economic situation and their own economic situations. In addition, consumers reported that they were more optimistic about their economic prospects. Conversely, the survey showed that consumers were less optimistic regarding the future of the country's economy as well as 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