The component “Economic situation of the country today, compared to 12 months ago” was the one that showed the greatest monthly advance, with an increase of 1.2 points compared to last July.

Consumer confidence in Mexico recovered in August 2024, rising 0.5 points to 47.6 units, and is at its highest level since February 2019, according to data from the National Institute of Statistics and Geography (Inegi).

The recovery in August comes after consumer confidence in their current and future economic situation fell by 0.1 points in July.

Of the five components of the Inegi Consumer Confidence Indicator, four had a monthly advance.

Only the component “Current economic situation of household members compared to 12 months ago” had a monthly decline of 0.1 units.

The component “Economic situation of the country today, compared to 12 months ago” was the one that showed the greatest monthly advance, with an increase of 1.2 points compared to last July.

Meanwhile, the component of “Current possibilities of household members to purchase furniture, television, washing machine, other household appliances, etc., compared to a year ago” increased by 0.9 points in August.

At the same time, there was an improvement in the consumer outlook regarding the “Expected economic situation of household members within 12 months”, as this component had a monthly increase of 0.7 points.

Finally, confidence regarding the “Expected economic situation of the country in 12 months, compared to the current situation” also increased slightly in the eighth month, with an increase of 0.1 points compared to July.