Mexico: Consumer confidence moderates for first time since February
November 5, 2010
In October, the consumer confidence index (ICC, indice de Confianza del Consumidor) fell from 91.6 points in September to 89.2 points, which was broadly in line with market expectations. As a result, the index remains below the 100-point threshold that separates optimistic from pessimistic territory for the 31st consecutive month, underscoring the fragility of the incipient recovery in private consumption. The drop in the consumer sentiment index was broad-based, with all five components falling over September. However, the most important driver was a worse assessment of the households' present situation compared to the year before, which fell 3.1% over the previous month.