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Credit growth may aid Mexican consumption - Goldman Sachs

Bnamericas Published: Tuesday, March 01, 2016

Strong levels of credit in Mexico should provide some support for growth in private consumption in the near term, but however, there are persistent headwinds against consumption, Goldman Sach analysts said in a note.

Consumer confidence, which is "still subdued," along with falling job creation and rising inflation may also add headwinds to private consumption, the analysts said.

Credit to the private sector rose 12.4% in real terms in January, up from growth of 11.7% in December and a 6.9% rise in the first half of 2015.

Consumer credit growth grew 8.9% in real terms in January, up from 2.7% in the same period of 2015. Corporate credit increased 15.8%, rising from 7.0% in January 2015, while mortgage credit grew 10.1%, up from 6.4% in 2015, Goldman Sachs added.

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