Mexico's Consumer Confidence On Rise Anthony Harrup - Dow Jones
go to original April 5, 2012

The peso’s 9 per cent bump against the dollar, 7 per cent bump against the euro, and 17 per cent bump against the yen since January 2012 speaks volumes about its strong correlation to the health of the US economy.

MEXICO CITY - Consumer confidence in Mexico was higher in March than a year earlier, but slipped in seasonally adjusted terms from February, the National Statistics Institute, or Inegi said this week.

Inegi said its consumer confidence survey produced a reading of 93.4 last month, compared with 91.7 in March 2011. Compared with February, confidence slipped 0.1 percentage point adjusted for seasonal swings.

Mexican consumer confidence has steadily improved thanks to increased credit, low inflation and a gradual recovery in the labor market, although it has yet to return to levels prior to the financial crisis of 2008-2009.

Inegi said that producer confidence fell in March to 54.5 points from 56.9 points a year earlier, and was down 0.7 percentage point seasonally adjusted from February. Respondents were less upbeat about the present situation and prospects for the overall economy and their own companies, as well as about the present being a good time to invest, Inegi said.

anthony.harrup@ dowjones.com

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