Mexico consumer confidence hits one-year high in July

MEXICO CITY (Reuters) - Mexico’s consumer confidence index rose to its highest level in a year, official data showed on Thursday, helped by a recovery in the peso on fading fears of new U.S. tariffs on Mexican goods.

The seasonally adjusted consumer confidence index rose to 86.6 in July from 85.1 in June , the national statistics agency said. It was the highest reading since July 2016.

Last month, the peso hit its strongest level in more than a year. U.S. President Donald Trump has moved away from threats to slap tariffs on Mexican-made goods and is set to start talks with Mexico and Canada to rework the NAFTA trade deal.

July's reading on the willingness of Mexicans to buy a big-ticket item like a TV or washing machine rose by nearly 4 percent from June. That reading sank by nearly 23 percent in January, when Trump took power and the peso hit a record low.

The unadjusted index rose to 88.7 during the month, also a one-year high.

(Reporting by Michael O'Boyle; Editing by Bernadette Baum and Meredith Mazzilli)

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