Mexico's Consumer Confidence Index

Mexico's Consumer Confidence Index leveled at 77.0 in October, down from 81.9 in September. It is the lowest level during 2009 and reflects both (i) that more consumers consider that they are worse off today than a year ago, and (ii) that fewer consumers expect that economic conditions will.improve over the following 12 months, as all five partial indicators dropped in October compared to September levels. I expect that the drop in consumer confidence is overstated by resentment due to the manner that both the House and the Senate are handling the 2010 budget.