The National Institute of Statistics and Geography (Inegi) revealed that in June 2024 the manufacturing, commercial and construction sectors in Mexico experienced a slowdown in their business confidence and expectations indicators . The perception of businessmen about the economic situation of the country and their companies showed a downward trend, with notable falls in several key sub-indicators.
During the sixth month of the year, the Aggregate Indicators of Business Trends and Expectations (IAT) of the manufacturing sector were located at 51.0 points, reflecting a monthly decrease of 0.2 points and an annual drop of 1.9 points .
Production fell to 48.9 points and used plant capacity fell to 47.8 points. Although exports increased slightly , other indicators such as national demand for products and total employed personnel also showed declines.
In the construction sector , the IAT stood at 50.5 points, with a slight reduction of 0.3 points compared to May and an annual increase of 2.2 points. However, the value of works executed as main contractor and as subcontractor showed mixed figures, with a drop in the value of works executed as main contractor to 51.7 points.
The commercial sector presented a significant drop, with the IAT falling to 47.2 points, a drop of 4.0 points compared to the previous month and 7.4 points in annual comparison. Net sales and consignment income showed the largest decreases, while total employed personnel remained unchanged.
Regarding non-financial private services , the IAT remained stable at 52.0 points, without monthly variation, but with an annual increase of 1.3 points. Income from the provision of services and national demand for services increased slightly, although expenditure on consumption of goods and services decreased.
On the other hand, Inegi reported that the Business Confidence Indicators (ICE) also reflected a negative trend. The ICE of the manufacturing sector fell to 53.0 points , a decrease of 0.7 points compared to May and an annual drop of 2.5 points. The right time to invest and the current economic situation of the country were the most affected components.
In the construction sector , the ICE fell 0.6 points to 50.0 points, with a notable drop at the right time to invest. Compared to June 2023, the ICE of the construction sector presented an annual drop of 2.4 points.
The ICE of the commerce sector showed a decrease of 3.0 points in monthly comparison, standing at 53.5 points, while the ICE of non-financial private services was reduced to 53.4 points, with a drop of 2.8 points compared to May and 1.9 points annually. . Components related to the right time to invest and the country’s current economic situation showed the largest falls.
In general, the Global Indicator of Business Confidence Opinion (IGOTEC) , which is the weighted average of the indicators of the four sectors, stood at 49.8 points, reflecting an annual drop of 1.7 points. These results indicate a slowdown in business confidence and expectations in Mexico, reflecting current economic conditions and perceptions about the immediate future.
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