Mexico: Consumer sentiment falls in November reversing the previous month's gain
December 4, 2012
In November, the consumer confidence index elaborated by the statistical institute (INEGI) dropped to 94.2 points from 94.9 points in October. The reading reversed the improvement seen in the previous month and undershot market expectations that had consumer sentiment edging up to 95.0 points. Owing to the decline, consumer sentiment is now only 0.1% above the level seen in the same month last year, which is below the 2.8% rise recorded in October.
The deterioration mostly reflected a more negative assessment of the households' current situation as well as of their expectation over the next 12 months. In contrast, the willingness to make major purchases improved markedly over the same month last year.