Mexico Consumer Confidence January 2016

Mexico

Mexico: Consumer confidence struggles to increase at the outset of the year

February 5, 2016

The unadjusted index of consumer confidence elaborated by INEGI inched down from December’s 93.0 to 92.5 in January and thus returned to the level observed in November. Despite the drop, the indicator did not reach the 90.0 the markets had expected.

January’s moderation reflected consumers’ less optimistic assessment regarding the country’s current economic situation as well as households’ more pessimistic opinions about the country’s economic prospects in the next 12 months. However, the survey in January showed that consumers were still optimistic regarding their current financial situation and showed more positive responses regarding their future personal economic expectations in the next 12 months. Moreover, consumers were cautious in January regarding the purchase of big-ticket items as inflation increased but employment remained firm.

Panelists participating in the LatinFocus Consensus Forecast expect private consumption to grow 3.1% in 2016, which is unchanged from last month’s projection. For 2017, panelists see private consumption increasing 3.3%.


Author:, Senior Economist

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Mexico Consumer Confidence January 2016

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


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