Mexico: Consumer confidence falls more than expected
December 3, 2010
In November, the consumer confidence index (ICC, indice de Confianza del Consumidor) dropped a seasonally adjusted 1.4% over the previous month to 90.4 points. The reading was below market expectations and represented the first significant monthly drop so far this year. As a result, consumer confidence fell even further below the 100-point threshold that separates optimism from pessimism. The drop in the consumer sentiment was mostly the result of the deteriorating assessment of the respondents regarding the country's economic outlook over the next twelve months. Moreover, consumers were slightly less upbeat about the purchase of durable goods. Meanwhile, on a positive note, the present situation sub-indexes regarding the households' situation and the overall economy increased over the previous month.