Amid uncertainty over the United States tariff policy, the confidence of Mexican business leaders remained unchanged in June 2025, according to the Global Indicator of Business Opinion Confidence (IGOEC) , which stood at 48.7 points , with no difference compared to last May, as reported Wednesday by the National Institute of Statistics and Geography (INEGI) .
This was due to the caution shown by business leaders regarding investments and the current situation in the country, which reflects pessimism, as the IGOEC index fell below the 50-point threshold, marking the fourth consecutive month of this trend.
In this regard, the Business Confidence Indicator (ICE) for manufacturing industries stood at 49.3 points in the sixth month of the year, which was 0.2 points lower than last May. Domestically, the component that fell the most was the company’s future economic situation , which fell 0.8 points.
The ICE construction index (ICE) was 47.7 units in the sixth month of 2025. It grew 1.4 points monthly during the period. With this figure, the indicator has remained below the 50-point threshold for 10 consecutive months.
In June of this year, the ICE trade index rose 0.8 points compared to the previous month, reaching 47.5 points . All five components increased compared to last May.
In the reference month, the ICE for private non-financial services fell 0.5 points compared to May 2025, reaching 49.1 units . Four of its components performed negatively, and only the ” right time to invest” index registered an increase, which was 0.8 points.
According to the Global Business Sentiment Index , two of the four sectors covered showed declines during June 2025.
This uncertainty has been generated, among other reasons, by international factors caused by Donald Trump , President of the United States, with his tariff plan, as well as by internal factors, such as a weakening of the Mexican economy and private consumption.
According to an economic study by the financial institution Banamex , Mexico is experiencing a technical recession due to the primary sector, which involves agricultural activities, as both services and industrial production fell 0.1% in the first quarter of 2025, although it warned that “the economic stagnation may continue.”
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