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Consumer Confidence in Mexico Hits One-Year High

Michael O’Boyle - Reuters
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August 7, 2017

Mexico’s consumer confidence index rose to its highest level in a year, official data shows, helped by a recovery in the peso on fading fears of new US tariffs on Mexican goods.

The seasonally adjusted consumer confidence index rose to 86.6 in July from 85.1 in June, the national statistics agency said. It was the highest reading since July 2016.

Last month, the peso hit its strongest level in more than a year. US President Donald Trump has moved away from threats to slap tariffs on Mexican-made goods and is set to start talks with Mexico and Canada to rework the NAFTA trade deal.

July’s reading on the willingness of Mexicans to buy a big-ticket item like a TV or washing machine rose by nearly 4 percent from June. That reading sank by nearly 23 percent in January, when Trump took power and the peso hit a record low.

The unadjusted index rose to 88.7 during the month, also a one-year high.

Read the rest at Reuters

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