The Day at a Glance | October 5 2023

*September´s consumer confidence indicator in Mexico reached its highest level since 2019.

*Ukrainian President Volodymyr Zelenskiy warned European leaders that Russia could rebuild its military capabilities and attack other nations in less than 5 years if they lose the war. 

*Steve Scalise and Jim Jordan are leading the race to replace Kevin McCarthy in the US House of Representatives. 

*New unemployment claims in the US recorded a moderate increase to 207,000 in the week ending on September 30th. 

*According to a report from Adobe Analytics, online sales in the US are expected to increase by 4.8% y/y during the holiday season.

Economic environment

Mexico´s consumer confidence indicator recorded a monthly increase for the fifth consecutive time in August and reached its highest level since March 2019 at 46.8 points (46.7 prev.). There were monthly increases in three out of the five components that make up the indicator. With this, there were monthly increases in the components that assess the current economic situation of household members, the current economic situation of the country, and the ability of household members to make purchases compared to a year ago. In contrast, the components that assess the expected economic situation in the household and the country in the next 12 months declined; however, both categories set above 50 points. In annual terms, all five components recorded an average 5.7 point increase; notable increases were seen in the categories covering the current ability of household members to make furniture and television purchases, compared to a year ago (6.9 points); and an 8.2 point increase in the current economic situation of the country compared to 12 months ago.