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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Amid uncertainty over US tariff policy, Mexican business confidence fell 0.2 points in November 2025 compared to the previous month and also decreased 3.2 units year-on-year, according to the Global Business Confidence Opinion Indicator (IGOEC) , which stood at  48.3 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 the threshold of 50 units.

In this regard, the  Business Confidence Indicator (BCI)  for  manufacturing industries  stood at  48.4 points  in the eleventh month of the year, which was 0.5 points lower than in October. Within this indicator, the component that decreased the most was the company’s current economic situation , with a drop of 0.9 points.

The  Construction Construction Index (ICE)  was  46 units in November 2025. It increased by 2 points compared to the previous month. With this figure, the indicator has remained below the 50-point threshold for 15 consecutive months.

In the cycle, the Commerce ICE fell 0.2 points  compared to the previous month, settling at  47.6 units . Three of its five components declined compared to last October, with the one that fell the most, by 1.8 points, being the right time to invest .

In the reference month, the  ICE for private non-financial services fell 0.1 points compared to October 2025, reaching 49.1 units . Two of its components showed negative performance. The country’s future economic outlook saw the largest decline, at 1.6 points.

According to the  Global Business Confidence Opinion Indicator , three of the four sectors it covers showed declines during November 2025.

This uncertainty has been generated, among other reasons, by international factors such as tariffs around the world, as well as by internal factors, such as a weakening of the Mexican economy and private consumption.

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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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The Transport and Logistics Confidence Index (ICTYL), conducted by T21 Business Intelligence since 2018, highlighted in its first quarter of 2025 (1Q25) exercise the impact of US President Donald Trump’s decisions among the main factors threatening business.

Unlike what had happened in previous quarters, where public insecurity and increased operating costs had been the main threats, in 1Q25 “Political uncertainty” is the factor that most worries business owners and managers, followed by the “Pace of the national economy” , while in third place were “Public insecurity” and “Increased operating costs” .

The ICTYL survey included approximately 140 executives and managers in the transportation and logistics sectors, where the confidence indicator stood at 85.2 points (1Q18=100) in 1Q25, marking the third quarter of decline and the second below 100 points.

When asked about “Business Volume” in Q1 2025, 24% of respondents responded that it grew between 5% and 10%, while 22.4% said it did not grow or remained stable.

Meanwhile, when asked about the pace of business in 1Q25, 59.2% reported a “Favorable” performance , while 40.8% rated it as “Unfavorable.”

Regarding the outlook for 2Q25, 61.2% considered it to be “Favorable,”while 38.8% stated that it will be “Unfavorable.”

Regarding the U.S. government’s tariff implementation policy, 33% of respondents believed it would have a significant impact on their businesses , while the same percentage identified a moderate impact.

The ICTYL results are in line with the Business Confidence Indicator (ICE) of the National Institute of Geography (INEGI) , which in April fell to 49.4 points, a level not seen since the COVID-19 pandemic, when it stood at 43.9 points, marking its third consecutive month of decline.

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Amid tariff threats from the United States, the confidence of Mexican businessmen showed a new drop during March 2025, since in the third month of this year the  Global Indicator of Business Opinion of Confidence (IGOEC)  was  49.3 points , which represented a decrease of  0.8 points  compared to last February and  5.4 points at an annual rate, as announced this Tuesday by the  National Institute of Statistics and Geography (Inegi) .

According to INEGI figures, this decline was due to the fact that three of the four sectors that make up the indicator reported a decrease in the reference month.

In this regard, the  Business Confidence Indicator (ICE)  for manufacturing industries stood at  49.9 points , down  0.4 points from last February. Three of the five components fell, including the right time to invest, which fell 0.6 points monthly.

The Construction Index (ICE) was 46.9 points in the third month of 2025. It grew by 0.1 units in the monthly comparison period. With this figure, the indicator fell below the 50-point threshold for the seventh consecutive month.

In March of this year, the ICE trade index decreased 1.4 points compared to the previous month, reaching 49.2 points . In this case, four of its components showed downward trend, highlighting the ” right time to invest” factor , with a drop of 4.3 points compared to last February.

In the reference month, the ICE for private non-financial services also fell 0.8 points compared to the previous month, reaching 49.5 points . Four of its components performed negatively, including the one on the country’s future economic situation , which fell 2.1 points monthly .

According to the Global Business Sentiment Indicator , three of the four sectors covered showed declines during March 2025. Among these, the right time to invest  was the component that showed the greatest distrust among business owners.

The decline in the IGOEC in March of this year marked the third consecutive decline in this indicator in its monthly measurement, while the annual measurement recorded 11 declines.

This uncertainty has been generated, among others, by international factors caused by  Donald Trump , President of the United States, with his plan to impose 25% tariffs. , which will be announced on April 2, on various Mexican and other countries’ products entering the United States.

In response, the president of Mexico, Claudia Sheinbaum emphasized at her Tuesday morning press conference that they are working to protect jobs in the country and stressed that the economy is strong and consolidated.

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