Consumer confidence in Mexico declined in November compared to the previous month after five months of increase, dragged down by greater pessimism about the economy and the covid-19 pandemic, the National Institute of Statistics and Geography (Inegi) said Friday, Dec. 4.
The Consumer Confidence Index (CCI) stood at 36.7 units in November, one point lower than in October and 6.7 points lower than the same month of 2019, according to Inegi’s seasonally adjusted figures.
According to Inegi, the sub-index that measures the current economic situation of household members compared to 12 months ago, fell 1.5 points in November compared to the previous month, to stand at 39.4 units.
Meanwhile, the sub-index gauging the expected economic situation of household members in 12 months compared to now also fell 1.5 points month-over-month, to stand at 52.1 units in November.
Both sub-indices saw the highest drops among the five sub-indices considered in Inegi’s survey of 32 cities.
In a report released separately, the Banorte financial group said the monthly result was “relatively consistent” with other indicators for the period, which have shown a slowdown and even some drops in activity.
Among the causes, Banorte mentioned the worsening covid-19 outbreak, both at home and abroad, and its impact on economic activity.
…Dec. 7, 2020