Mexico: Consumer optimism moderates in August, remains close to six-month high
September 4, 2013
The unadjusted index of consumer confidence published by the statistical institute (INEGI) edged down from 98.0 points in July (the highest level in 2013 to date) to 97.4 points in August. The moderation in consumer optimism was in line with market expectations.
August's slight decline mainly reflects consumers' less optimistic outlook on their economic prospects and the future state of the economy. Conversely, households' perception of their current economic status reached a high that hadn't been seen in more than five years.
LatinFocus Consensus Forecast panelists expect private consumption to grow 3.2% this year, which is down 0.1 percentage points from last month's projection. For next year, the panel sees private consumption expanding 4.1%.
Author: Ricardo Aceves, Senior Economist