Consumer confidence deteriorated in November

 

Consumer confidence among Mexicans recorded its second consecutive slump during November, INEGI has reported.

The Consumer Confidence Indicator (ICC) fell 0.4 points in a month-on-month comparison, its second consecutive drop and the seventh it has recorded since President Andrés Manuel López Obrador took office.

After the November report, the ICC sat at 43.5 points. Last year, after the results of the presidential election, confidence began to increase until last February when it reached its peak of 48.6 points.

The ability to buy durable goods, such as household appliances, declinined 0.3 points despite the recent El Buen Fin (Mexico’s version of Black Friday), held between November 15 and 18. The 24.10 points recorded in the index meant purchasing ability was its lowest level for four months.

 

Consumer confidence indicator and its components. Seasonally adjusted figures

Points November 2019

Concept

Indicator level

Difference in points compared to the previous month

Difference in points compared to the same month of the previous year

Consumer Confidence Indicator

43.5

-0.4

2.2

Current economic situation of household members compared to what they had 12 months ago

49.2

0.4

2.8

Expected economic situation of household members within 12 months, compared to the current one

55.1

0.1

0.5

Current economic situation of the country, compared to that of 12 months ago

41.3

-0.8

7.8

Economic situation of the country within 12 months, compared to the current one

48.1

-0.8

-1.1

Current possibilities of the members of the household compared to those of a year ago, to make purchases of furniture, television, washing machine, other household appliances, etc

24.1

-0.3

0.9

 

Source. INEGI