Mexican business confidence remained unchanged in August 2026 compared to last July , according to the results of the Global Business Confidence Opinion Indicator (IGOEC), which was 48.2 points .
According to data released Tuesday by the National Institute of Statistics and Geography (Inegi) , the IGOEC registered a drop of 1.1 points year-on-year.
With this latest observation, the indicator has remained below the 50-point threshold for 18 consecutive months , reflecting a pessimistic business environment.
In August 2026, the Business Confidence Indicator (BCI) for manufacturing industries stood at 48.1 points, representing a 0.1 point increase compared to July but a 1.2 point decrease year-on-year. Within the BCI, the component that showed the best performance was the “opportune time to invest,” with a 1.4 point increase month-on-month. Year-on-year, all five components of the BCI declined.
The Construction Construction Index (ICE) was 47.5 units in August. This represents a 0.4-point increase compared to the previous month and a 1.3-point increase year-over-year. The “opportune time to invest” component performed best, rising 3 points month-over-month and 3.9 points year-over-year.
Meanwhile, the Trade Confidence Index (ICE) fell 0.3 points compared to the previous month, settling at 48 units. Year-on-year, it dropped 0.5 points. Two of its five components declined compared to last July, with the country’s current economic situation showing the largest decrease at 1.1 points per month, while the company’s future economic situation saw the greatest year-on-year decline (-1.9 points).
In the reference month, the Private Non-Financial Services Index (ICE) rose 0.1 points compared to July 2016 but fell 1.8 points year-on-year to 48.6 points. Three of its components showed a negative monthly trend; the optimal time to invest increased by 2.2 points. Meanwhile, all five of its components declined year-on-year.
Within the ICE of private non-financial services, the transport, postal and storage sector stood at 47.4 points in August 2026, which meant 3 units less at an annual rate.
The IGOEC is the weighted average of the confidence indicators of the manufacturing, construction, trade and private non-financial services sectors, prepared from the Monthly Business Opinion Survey (EMOE).
The results for August 2026 showed a monthly stagnation in business confidence, with structural pessimism reflected in remaining below the 50-point threshold, although with positive signs in the perception of investment opportunities.
Manufacturing orders are progressing
In August 2026, the Manufacturing Orders Indicator (IPM) registered a monthly growth of 2.1 points , reaching 52.2 units with seasonally adjusted data, thus remaining, for the third consecutive month, above the threshold of 50 points, reported Inegi and the Bank of Mexico (Banxico) .
In its annual measurement, the indicator also maintained a positive performance by increasing by 3.1 points.
Within the sector, orders advanced 6.7 points month-on-month and 4.5 points compared to August 2025; production increased 1.5 points month-on-month and 8.8 points year-on-year. In the eighth month of the year, total employment rose 0.3 points month-on-month and 0.6 points year-on-year. Timeliness in the delivery of inputs from suppliers registered an increase of 0.3 points month-on-month and a decrease of 1.7 points year-on-year; while input inventories fell 4.1 points month-on-month and 2.8 points year-on-year.
By subsector groups, the one that showed the greatest annual increase was computer equipment, electronic accessories and electrical appliances with 12.4 points; meanwhile, transport equipment was the one with the greatest decrease with 3 units at an annual rate.
According to Banxico, knowing the Manufacturing Orders Indicator, which is built from the results of the Monthly Business Opinion Survey, allows for a preliminary view of economic activity in Mexico.
An increase in the IPM suggests that companies are receiving more orders and producing more.
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