Mexico’s Consumer Confidence Falls for 4th Straight Month

Consumer confidence in Mexico continued its decline in February, marking the fourth consecutive month of decrease, according to data from the National Institute of Statistics and Geography (INEGI).

The Consumer Confidence Index (ICC) stood at 46.3 points in seasonally adjusted figures, reflecting a monthly drop of 0.3 points. This decline follows a peak in October when Claudia Sheinbaum took office as Mexico’s first female president, and the ICC reached a historic high.

Since then, consumer sentiment has weakened, driven by concerns over constitutional reforms and a slowing economy. Additional uncertainty has been fueled by the imposition of tariffs on Mexican imports by the United States, along with other policy decisions by US President Donald Trump.

The INEGI report, prepared in collaboration with Mexico’s Central Bank (Banxico), showed that four of the five components of the ICC declined compared to the previous month. 

The largest drop was in the assessment of the current economic situation of the country, which fell by 0.9 points. Expectations regarding the country’s future economic situation also declined by 0.4 points.

Concerns over a potential economic recession, particularly if US tariffs remain in place for an extended period, have contributed to the pessimistic outlook. The perception of the current financial situation of households decreased by 0.2 points, while expectations for future household economic conditions fell by 0.1 points.

The only component that showed an increase was the likelihood of purchasing household appliances and furniture, which rose by 0.6 points. This gain coincides with a gradual decline in inflation, which remains within Banxico’s target range of 3% ± 1 percentage point.

Consumer confidence in Mexico continued its decline in February, marking the fourth consecutive month of decrease, according to data from the National Institute of Statistics and Geography (INEGI).

The Consumer Confidence Index (ICC) stood at 46.3 points in seasonally adjusted figures, reflecting a monthly drop of 0.3 points. This decline follows a peak in October when Claudia Sheinbaum took office as Mexico’s first female president, and the ICC reached a historic high.

Since then, consumer sentiment has weakened, driven by concerns over constitutional reforms and a slowing economy. Additional uncertainty has been fueled by the imposition of tariffs on Mexican imports by the United States, along with other policy decisions by US President Donald Trump.

The INEGI report, prepared in collaboration with Mexico’s Central Bank (Banxico), showed that four of the five components of the ICC declined compared to the previous month. 
The largest drop was in the assessment of the current economic situation of the country, which fell by 0.9 points. Expectations regarding the country’s future economic situation also declined by 0.4 points.

Concerns over a potential economic recession, particularly if US tariffs remain in place for an extended period, have contributed to the pessimistic outlook. The perception of the current financial situation of households decreased by 0.2 points, while expectations for future household economic conditions fell by 0.1 points.

The only component that showed an increase was the likelihood of purchasing household appliances and furniture, which rose by 0.6 points. This gain coincides with a gradual decline in inflation, which remains within Banxico’s target range of 3% ± 1 percentage point.