Mexico Consumer Confidence July 2022

Consumer confidence fell to 41.3 in July from June’s 43.0. July’s result marked the worst reading since March 2021, and comes in a context of higher inflation and interest rates, and rising concerns of a recession in the U.S. Consequently, the index remained entrenched below the 50-point threshold, signaling sustained pessimism among consumers.

The headline print reflected a deterioration in consumers’ sentiment regarding major purchases, the general economy and their own financial conditions.

Panelists participating in this month’s LatinFocus Consensus Forecast project private consumption to increase 2.6% in 2022, which is up 0.4 percentage points from last month’s forecast, and 1.9% in 2023.