Mexico: imported durable goods consumption up 12.9% January to July

Imported durable goods bought in Mexico rose 8.4% in July compared with a year earlier, against 4.0% for durable goods made in Mexico. The National Institute of Statistics and Geography of Mexico (INEGI) published the figures earlier this October in its monthly private consumption indicator.

The figures for January through July give more context. Consumption of imported durables increased 12.9% compared with the same period last year, while consumption of domestically produced durables fell 4.0%. Both comparisons use the original series and measure growth in real terms.

Across total private consumption, the seasonally adjusted figures showed no change from June to July and growth of 1.1% from a year earlier. Spending on imported goods rose 1.4% in the month, while spending on domestic goods and services fell 0.1%.

July’s increase in domestic durables therefore came after a weaker first seven months overall. Imported durables were ahead on both measures. For anyone following the durable goods market in Mexico, that difference is more useful than July’s growth rates alone.