The Day at a Glance | January 8 2024

*Consumer confidence in Mexico slightly decreased in December. 

*Tomorrow, inflationary figures for the end of 2023 will be made known. Consensus estimates for general and core inflation are 4.55% and 5.14%, respectively. At Intercam, we estimate these figures will set at 4.62% and 5.16%.

*Leaders of the Republican and Democratic parties agreed on Sunday to a $1.59 trillion spending package to avoid a government shutdown at the end of the month. Congressional approval must be given by no later than February 2nd.

*Western allies seek a swift end to the war in Gaza while Israel exerts pressure.

Economic environment

Consumer confidence in Mexico slightly decreased in December. The consumer confidence indicator set at 46.8 points, according to seasonally adjusted figures, and reflected a 0.4 point decline compared to the previous month. There was practically a widespread decline among components, except for the possibility of making purchases of durable goods within the home, which remained unchanged. The consumer confidence indicator is collected between INEGI and the Central Bank of Mexico and aims to measure consumers’ perceptions of the current and future situation in both their households and the country. It´s constructed through surveys.