Consumer confidence in Mexico suffers its third consecutive monthly decline

Consumer confidence in Mexico suffers its third consecutive monthly decline

According to him INEGI, Mexican consumers are pessimistic about what may happen in their personal economy and in the country’s in the next twelve months.

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The Consumer Confidence Indicator, prepared jointly by the INEGI and the Bank of Mexico and that reflects the feelings of families for their decision making, fell 1.7 points in July compared to June.

This is its third consecutive monthly decline and this decrease has been more intense after it fell -0.9 points in June and -0.2 points in May.

Thus, the Indicator stood at 41.3 points.

The worst drop in the confidence indicator occurred at the start of the pandemic in April 2020 when it fell -10.3 points.

The five components that make up this indicator fell.

But those that regressed the most were those related to the perception of families about the economic situation of the country, as well as that expected by household members within 12 months.

The members of the household also considered that the economic situation of the country today is no better compared to that of 12 months ago.

And they have fewer possibilities at the present time, compared to a year ago, to make purchases of furniture, television, washing machine, other electrical appliances, etc.

In the complementary indicators, families in Mexico fear for their employment situation and the expected personal economic situation in 12 months compared to the current one

At an annual rate, the Consumer Confidence Index fell 3% in July this year compared to the same month in 2021.

With information from Guadalupe Flores.



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