Consumer confidence gains momentum again in November

The Consumer Confidence it gained momentum again in November, after a few months of setbacks and stagnation, according to data released by the National Institute of Statistics and Geography (Inegi).

In the penultimate month of the year, the Consumer Confidence Indicator (ICC) reported a level of 41.7 points, which meant an increase of 0.6 points compared to the previous month.

The growth of consumer optimism in November is the highest on record for a year, when it grew 2.3 points in the same month.

In the past months, the high levels of inflation and economic uncertainty had an effect on the sentiments of Mexicans, for which the ICC reported falls, modest increases and even stagnation.

In its annual comparison, the ICC continued to fall by spinning its sixth with a decline of 4.2 points.

Optimism in the economy

Within the components of the ICC, it was observed that the greatest increase occurred in regard to the economic situation of the countrys, in line with the data of a better performance of the economy than expected in the third quarter of the year.

Thus, the component that refers to the economic situation of the current country improved by 1.4 points in monthly comparison, while the economic situation of the future country increased by 0.5 points.

Regarding the current economic situation of household members, the sentiment of this item improved by 0.4 points while household purchase possibilities increased by 0.1 points.

The only component that showed a monthly deterioration was the one that refers to the current economic situation of household memberswhich decreased 0.1 points.

ana.martinez@eleconomista.mx