In January 2026, the confidence of Mexican business owners fell 0.2 points compared to December 2025 and also decreased 3.4 units year-on-year, according to the Global Indicator of Business Confidence Opinion (IGOEC), which stood at 48 points , as announced this Tuesday by the National Institute of Statistics and Geography (Inegi) .
This was due to the caution shown by business owners in the manufacturing, trade and private non-financial services sectors, reflecting pessimism, as the IGOEC was below 50 units.
“With this latest observation, the indicator has now remained below the 50-point threshold for 11 consecutive months,” Inegi noted.
In January 2026, the Business Confidence Indicator (BCI) for manufacturing industries stood at 48.4 points, a decrease of 0.2 points compared to December. Within the index, four of its five components showed monthly declines. The only component that registered an increase was the current economic situation of the company , rising by 0.1 points.
The Construction Economic Index (ICE ) stood at 45.5 units in January 2026. It increased by 0.4 points compared to the previous month. With this figure, the indicator remained below the 50-point threshold for 17 consecutive months. The “opportune time to invest” index reported 3.5 units.
In the cycle, the Trade ICE fell 0.6 points in January 2026 compared to the previous month, settling at 47.1 units. Three of its five components declined compared to last December, with the component that fell the most, by 3.1 points, being the right time to invest.
In the reference month, the Private Non-Financial Services Economic Index (ICE) fell 0.1 points compared to the previous month, reaching 48.8 units. Two of its components showed negative performance. The “opportune time to invest” component performed best, rising 1.1 points.
According to the Global Business Confidence Opinion Indicator , three of the four sectors it covers showed declines during the first month of 2026.
Amid uncertainty over US tariff policy and a slowdown in the Mexican economy, business confidence remained moderate.
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