Mexico’s consumer confidence index rose to 98.9 in July, the highest since March 2008, the national statistics agency, known as Inegi, reported today on its website.
The index increased from 95.5 in June and compared with the 96.9 median forecast of seven analysts surveyed by Bloomberg.
The consumer sentiment index reflects Mexicans’ perception of the economy, their financial situation and whether they consider it a good time to spend on durable goods. The index fell in May and June after reaching 97.2 in April as the economy showed resilience in the face of Europe’s debt crisis.
The economy grew about 4 percent in the second quarter, less than the 4.6 percent expansion Mexico saw in the first three months of the year, according to both a July 30 estimate from the Finance Ministry and the median forecast of 14 economists surveyed by Bloomberg.