Mexico's consumer confidence index reaches record low

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Mexico's consumer confidence fell in October to the lowest level since the national statistics agency began tracking the index in 2001, as the global credit crisis slowed growth in Latin America's second-largest economy.

The index decreased to 82 from 88.6 in September, the agency said Wednesday.

Economists had estimated confidence would fall to 86.2, according to the median of 12 forecasts compiled by Bloomberg. July's level of 88.4 was previously the lowest ever.

The consumer sentiment index reflects Mexicans' perception of the economy, their financial situation and whether they consider it a good time to purchase durable goods.