Consumer Confidence Indicator: 70% of Mexicans believe that the economy is worse
The drop in the perception of a better future economic situation for the household and the country reduced the confidence of Mexican consumers in July.
According to the results of the Consumer Confidence Indicator prepared by the National Institute of Statistics and Geography (Inegi) and the Bank of Mexico, Mexican consumer sentiment remained stable for July, marking 44.3 points, the same level as in June, with seasonally adjusted figures to make the periods comparable.
In July, monthly reductions were observed with seasonally adjusted data in the component that captures the perception of the expected economic situation of the household within 12 months, of 0.2 points, and in the one related to the future economic situation of the country, with a decrease of 0.9 points.
The confidence report revealed that seven out of 10 Mexican consumers believe that the country's current economic situation is worse than 12 months ago and 30 percent that it is better; regarding the future, practically all of them think that the economic situation in 12 months will be the same as the current one.
Their perception of the employment situation in the country in the next 12 months dropped 2.5 points in July, compared to June. Meanwhile, their current possibilities of saving some part of their income decreased 3.3 points in the reference period.
The variable measuring consumers' perception of the country's economic situation today compared to that prevailing 12 months ago grew 0.4 points. Finally, the component related to the opinion about the possibilities of household members to purchase durable goods, such as furniture, televisions, washing machines and other household appliances, at present compared to a year ago, increased 0.2 points.
