Mexico: Consumer sentiment falls to over year-low in March
Consumer confidence declined to its lowest point since November 2018 in March, with the seasonally-adjusted consumer confidence indicator published by the Statistical Institute (INEGI) coming in at 42.6, below February’s revised 43.8 reading (previously reported: 43.9).
March’s result reflected a broad-based deterioration of the indicator’s sub-components. Households’ assessment over the general economic environment in the year ahead and the current state of the economy turned gloomier compared to February. Meanwhile, their appraisal about their current financial situation and their ability to purchase big-ticket items worsened. Lastly, consumers’ perception regarding their financial situation in 12 months’ time turned less positive compared to the previous month.
Due to the state of emergency declared amid the Covid-19 pandemic, INEGI will suspend the publication of the consumer confidence survey until further notice starting April 2020.