Consumer confidence in Mexico falls | The USA Print

Consumer confidence in Mexico falls

The confidence index of the consumer (ICC) Mexican decreased 0.3 points in March compared to the previous month to reach 44.5, revealed this Wednesday the National Institute of Statistics and Geography (Inegi) with seasonally adjusted figures.

Compared to the same month of 2022, the ICC, prepared jointly by the Inegi and the Bank of Mexicorose 0.9 points.

The ICC had a monthly increase of 0.1 and an annual increase of 1.6 in “economic situation of the country expected within 12 months, compared to the current one”.

While it kept monthly indicators unchanged, such as the perspective on the “current economic situation of household members compared to what they had 12 months ago” and the “economic situation of the country today, compared to that of 12 months ago months”.

However, in both indicators there was an increase of 0.2 and 2.6 points in the year, respectively.

The ICC also registered in March the monthly contraction of 0.1 points and an annual contraction of 1.1 in the indicator of “expected economic situation of household members within 12 months, compared to the current one.”

As well as a decrease of 2.1 at a monthly rate and 1.1 a year in the possibilities of household members, compared to those of a year ago, to make purchases of furniture, televisions, washing machines and other household appliances.

These data come amid slowing inflation in Mexicowhich registered an annual rate of 6.85% in March, its second month down in a row and the lowest level since October 2021.

They are also released after revealing last Friday the growth expectations for the gross domestic product (GDP) of Mexico in 2023 of 3%, above the expectations of the private sector that point to growth at the end of the year of 1.4%.

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