Mexico Consumer Confidence Off 4-Year High in June Dave Graham - Reuters
go to original July 4, 2012

Mexico's consumer confidence slipped off a four-year high in June as a global slowdown weighed on sentiment.

Data from the national statistics agency on Wednesday showed the index slipped to 95.2, seasonally adjusted, compared to a downwardly revised 96.5 in May. May's index was originally reported at 97.0.

The sub-index measuring how consumers saw their possibilities of making a major durable goods purchase, such as furniture or a TV, fell to 81.2 from 89.0.

Slowing job growth in the United States, Mexico's top trading partner, could crimp demand for Mexican exports and undermine the solid growth seen in the first half of the year.

Still, Mexico's central bank chief said last month that the economy could grow nearly 4 percent this year if U.S. growth holds up.

Interest rate swaps were little changed after the data as investors stuck to bets that policymakers will hold interest rates steady at the current 4.5 percent into 2014.

On Sunday, Mexicans voted to return to power the party which ruled the country for most of last century, the Institutional Revolutionary Party, or PRI, which has promised economic reforms in pursuit of growth of 6 percent a year.

The unadjusted index was 95.5 during the month, down from 96.3 in the prior month.

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