Mexico: Consumer confidence wanes in April
May 8, 2015
Confidence among Mexican consumers moderated in April after it reached a three-month high in March. The unadjusted index of consumer confidence elaborated by INEGI fell from 93.1 points in March to 91.3 points in April. The result caught market analysts by surprise as they had the expected the indicator to rise further to 93.6 points. A month-on-month comparison showed that the index fell a seasonally-adjusted 2.1% in April (March: 0.0% month-on-month).
April’s deterioration in consumer sentiment was broad-based. Details of the report were equally disappointing as all subcomponents fell over the previous month. Households’ opinions regarding the country’s current economic situation and economic prospects deteriorated in April. Regarding their own current economic situation and economic prospects, consumers were less optimistic in April than in March. Particularly, consumers’ economic expectations sub-indicator hit a six-month low. Moreover, consumers signaled that they were less willing to buy big-ticket items.
Author: Ricardo Aceves, Senior Economist