Mexico | Back-to-school momentum fades and consumption falls (-)0.6% in October

Summary

The weak October figure adds to the contraction that spending registered in 3Q21 of (-)1.0% QoQ, period that was affected by the spread of the Delta variant and the fading of the initial momentum after reopening

Key points

• Key points:
• The data by component of the BBVA Research Big Data Consumption Index point to a extended contraction of the services sector
• The consumption of goods is still in positive territory, although risks from the extension of bottlenecks and inputs shortages in different industries persist
• In terms of mobility, gasoline consumption registered a negative monthly variation in October, standing 6% below its pre-pandemic level

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