Mexican consumer spending accelerated in the third quarter, bolstering an improving outlook for the country's economic recovery. Private spending rose 1.87 percent during the third quarter compared with the previous three-month period, the national statistics agency said on Tuesday. The third-quarter gain compared with a downwardly revised 1.3 percent increase in the second quarter.
Private spending in the most recent quarter was 5.0 percent higher than during the same period a year earlier. Aggregate demand increased 2.76 percent from the previous quarter, and was up 9.3 percent from the same quarter in 2009. Several analysts have recently lifted their forecasts for economic growth in Mexico next year, mostly due to a brightening view on the United States, which absorbs roughly 80 percent of exports.
Goldman Sachs this week raised its growth outlook for next year to 4.1 percent from 3.7 percent and lifted its 2012 forecast to 4.7 percent from the 4.0 percent increase previously expected. RBC Capital Markets also took a more positive view of Mexican growth for next year, raising its forecast to 4.0 percent expansion from 3.2 percent.
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