Inegi estimates a 0.7% drop in consumption in November

Despite the optimism of the business chambers and the resilience of consumption throughout the year, the Good End 2022 was due in sales and aims to be reflected in the country’s private consumption indicator for the month of November.

This Thursday the National Institute of Geography and Statistics (Inegi) published its timely indicator of private consumption (IOCP), which estimates that during November private consumption contracted 0.7% per month while in October, on the contrary, it expanded month by month. month of 1.3 percent.

This is the first time that the Inegi presents the results of this indicator, which, he said, are published as an experimental statistic with the purpose of providing an indicator that gains opportunity for decision-making.

“These allow us to have timely econometric estimates on the evolution of the Monthly Indicator of Private Consumption in the Internal Market (IMCPMI). Thus, while the IMCPMI is published approximately nine weeks after the end of the reference month, the IOCP offers a first estimate —with a greater margin of statistical error— just two weeks after the end of the reference month and a second estimate — generally more accurate— six weeks after the end of the reference month”, explained the Inegi in a statement.

The last observed data on private consumption published by the Inegi corresponds to September, when a monthly advance of 0.4% was observed, which allowed it to set a record.

octavio.amador@eleconomista.mx