Mexico: Consumer optimism reaches six- month high
August 5, 2013
The unadjusted index of consumer confidence published by the statistical institute (INEGI) jumped to 98.0 points in July (June: 93.3 points). Market expectations had the index rising to 94.8 points and represents the highest reading since January 2013.
July's sweeping improvements included notable increases in consumers' perception of their economic prospects and the state of the economy. Additionally, consumers' view of their current household situations as well as the country's economic situation as it stands today reached highs not seen since January.
LatinFocus Consensus Forecast panellists expect private consumption to grow 3.3% this year, which is down 0.1 percentage points from last month's projections. For next year, the panel sees private consumption expanding 4.0%.
Author: Ricardo Aceves, Senior Economist