Mexico’s consumer confidence index rebounded in June to an eight-month high as consumers became more optimistic about their ability to buy big-ticket items, raising hopes of a rebound in consumer spending this year.
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Consumer confidence when adjusted for seasonal swings rose to 91.3 last month from 90.6 the prior month, reaching its highest since October 2013.
Economic growth sank to a four-year low of 1.1 percent last year and analysts polled by the central bank expect growth of just 2.65 percent this year.
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Mexico’s biggest retailer, Wal-Mart de Mexico, saw sales at stores open at least a year fall in June, data on Thursday showed.
Mexico consumer confidence June 2014 May 2014 June 2013
Index, seasonally adjusted 91.3 90.6* 93.4*
Pct change vs prior month 0.78 0.75* -1.99*
Personal outlook current -0.21 1.42* -2.77*
Personal outlook year ahead -0.42 0.70 * -0.74*
National outlook current -1.08 1.19* -2.15*
National outlook year ahead 1.04 1.79* -3.60*
Big ticket purchase 1.59 0.00* -0.99*
Index, unadjusted 91.0 90.7 93.3