Mexico: Consumer confidence reaches highest level in over two years
February 4, 2011
The domestic sector is finally showing signs of a strong revival. In January, the consumer confidence index (ICC, indice de Confianza del Consumidor) reached 92.3 points, which beat market analysts that saw the index at 91.5 points. Although the index still lingers below the 100-point threshold that separates optimism from pessimism, the current reading represents the highest level since May 2008. Moreover, in seasonally adjusted terms the index increased a robust 1.1% over the previous month. January's rise was the result of consumers being more optimistic regarding the purchase of durable consumer goods (+7.4% month-on-month), which reflected a more positive assessment of their own households' present situation.