Mexico Consumer Confidence at New 4-Year High Reuters
go to original June 4, 2012

MEXICO CITY - Mexican consumer confidence rose to a fresh four-year high in May as shoppers grew more confident about the outlook for their personal finances and the country's economy.

Data from the national statistics agency on Monday showed the index rose to 97.0, adjusted for seasonal effects. It was up from 96.8 in April and the highest since April 2008 - before the global financial crisis knocked Mexico into a deep recession.

Those surveyed felt their personal financial situation and that of the economy was worse than it was 12 months ago but expected them to get better. The rise was driven by increases in the sub-sections measuring consumer expectations for household finances in the next 12 months and for the economy as whole.

Mexico's economy made a strong start to the year, buoyed by healthy U.S. demand for its manufactured goods, and the central bank expects growth of 3.25 percent to 4.25 percent in 2012.

But the pickup is not expected to have any impact on interest rates, with investors betting on no change to the current 4.5 percent level until March 2014.

The unadjusted consumer confidence reading fell to 96.3 points from 97.2 points in April, the statistics agency said.

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