2012.06.0410:21:00UTC+00Mexican Consumer Morale Weakens More Than Expected In May

Consumer confidence in Mexico deteriorated more than economists expected in May, data released by statistical office INEGI showed Monday.

The consumer confidence index decreased to 96.3 in May from 97.2 in April, while economists were looking for a reading of 97.1.

Mexican households' views of their current personal finances compared to that a year earlier deteriorated during the month, with the relevant indicator falling to 95 from 98.2 April. Consumers' were slightly less optimistic about their financial situation in the next twelve months. The corresponding sub-indicator edged down to 101.2 in May from 101.5 in the previous month.

The measures of households' perception of the country's present economic condition dropped by 2.3 points sequentially to 94.7 during the month. Consumers were also less optimistic about prospects for the economy in the coming months, with the related indicator dropping to 101.1 from 102.3, data showed.