After starting 2026 with a 0.2-point drop on a monthly basis, Mexican business confidence showed a rebound of 0.7 units compared to last January, as announced this Monday by the National Institute of Statistics and Geography (Inegi) .

According to figures obtained from the Monthly Business Opinion Survey (EMOE), the Global Business Confidence Opinion Indicator (IGOEC), which stood at  48.8 points in the second month of 2026, fell 1.3 units in its annual measurement .

“With this latest observation, the indicator has now remained below the 50-point threshold for 12 consecutive months,” Inegi stated.

In February 2026, three of the four industries in the Business Confidence Indicator (BCI) registered increases , with commerce showing the largest increase in the period, rising 1.6 points compared to January, reaching a level of 48.8. Within this sector, the appropriate time to invest was the component with the largest increase, rising 4.4 points on a monthly basis.

The Construction Economic Index (ICE ) was 46.5 points in the reference month, representing a 1-point increase compared to the previous month. With this figure, the indicator has remained below the 50-point threshold for 18 consecutive months.

In the second month of the year, private non-financial services rose 0.6 units compared to January 2026, reaching 49.5 points, with the right time to invest with a growth of 1.5 units.

Manufacturing industries recorded an ICE of 48.1 points in February of this year, a decrease of 0.2 units compared to the first month of 2026. The component with the greatest decline was the appropriate time to invest, with a decrease of 0.8 points compared to January 2026.

Although the IGOEC registered growth in three of its components, in the trade, construction and non-financial private services sectors, these indicators remained below 50 units, reflecting pessimism in the confidence of businesspeople in the period in the face of a challenging global economic environment.

Understanding the level of trust among business leaders influences the perception of a company’s integrity and ability to meet its objectives, as well as investment decisions. A high level of trust translates into greater financial benefits and a stronger market position.

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According to figures obtained from the  Monthly Business Opinion Survey (EMOE) , this weighting represented a drop of  0.8 points  in relation to September 2025 and  3.4 units  in its annual comparison.

“With this latest observation, the indicator has now remained below the 50-point threshold for eight consecutive months,” Inegi explained.

Meanwhile,  construction  fell 0.6 points  in its monthly comparison; the component that showed the greatest progress was that related to the  current economic situation of the company  with an increase of  0.6 units .

Meanwhile, the  retail sector  confidence indicator fell  0.3 points  in October compared to September 2025, reaching  47.9 units . The largest decline was related to  the company’s future economic outlook,  with a decrease of  1.2 units .

The private non-financial services confidence indicator   fell  1.3 points in October 2025 compared to the previous month and settled at 49.2 points ; the  right time to invest  was the component with the largest decline, falling  4.1 units  during the period.

Last October, the IGOEC registered a decline in all four of its components: manufacturing, construction, trade, and private non-financial services.

Therefore, this indicator did not reach 50 units, reflecting pessimism in business confidence during the period in the face of a challenging global economic environment.

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Amid uncertainty over the United States tariff policy, Mexican business confidence showed a slight recovery in August 2025, according to the  Global Indicator of Business Opinion Confidence (IGOEC) ,  which stood at  49.3 units , according to figures released Monday by the  National Institute of Statistics and Geography (INEGI) .

This shows that private sector caution persists, especially in the construction sector — which saw a decline over the cycle—since the IGOEC index fell below the 50-point threshold, reflecting pessimism.

According to figures obtained from the  Monthly Business Opinion Survey (EMOE) , this weighting represented an increase of  0.4 points in relation to July 2025. In its annual measurement, the indicator decreased 3.4 units .

“With this latest observation, the indicator has now been below the 50-point threshold for six consecutive months,” the agency explained.

In the eighth month of the year, the manufacturing industry confidence indicator  stood at 49.4 points, the same level as last July. Domestically, two of its five components showed declines.  The country’s current economic situation registered the largest increase, with 0.8 points.

Construction  saw a negative result , falling 0.9 units monthly to 46.2 points; two of its components showed progress, with the country’s future economic situation showing the greatest increase, with 2.3 units.

The trade sector  confidence indicator  increased 1.4 points compared to July 2025, reaching 48.5 points. The largest increase was seen in the country’s current economic situation , with 2.7 points.

Last August, the  non-financial private services confidence indicator  grew 0.3 points compared to the previous month, reaching 50.4 points; the country’s future economic situation  was the component with the largest increase, with 0.9 points during the period.

The IGOEC figures, while showing a slight increase in confidence among Mexican business owners, also reflect caution regarding the country’s current and future economic situation, which remains resilient in the face of a period of uncertainty generated by U.S. tariffs.

The eventual “respite” granted by the United States to Mexico, with the 90-day pause on the 30% tariffs, has had an impact on improving business perceptions. However, they are still struggling against the tide due to the instability this situation and the global economy represent.

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After showing declines in the first months of 2025 and amid uncertainty over the global economic reconfiguration, Mexican business confidence showed progress last July.

This was estimated by the  Global Indicator of Business Opinion Confidence (IGOEC) , which in the seventh month of the year stood at  49 points , as revealed this Friday by the  National Institute of Statistics and Geography (INEGI) .

According to figures obtained from the  Monthly Business Opinion Survey (EMOE) , this weighting represented an increase of  0.4 points  in relation to June 2025. In its annual measurement, it decreased by  4.5 units .

“With this latest observation, the indicator has now been below the 50-point threshold for five consecutive months,” i.e., in pessimistic territory, INEGI stated.

In July 2025, the  manufacturing industry confidence indicator  was  49.4 points ,  0.2 points  higher than last June. Domestically, three of its five components showed declines. The ” Right Time to Invest” indicator registered the largest increase, with 0.8 points.

Construction  saw a negative result ,  falling 0.4 points in its monthly comparison; the only component that showed progress was the one related to the right time to invest , with an increase of 1.9 units.

The trade sector  confidence indicator  decreased 0.4 points compared to June 2025, reaching  47.2 points . The largest decline came at the right time to invest , with a drop of 1.3 points.

Last July, the non-financial private services confidence indicator increased one point compared to the previous month, reaching 50.1 points ; the  right time to invest  was the component with the greatest increase, rising 2.4 points during the period.

The resilient performance of the Mexican economy has contributed to the improvement in business confidence among Mexican businesses last July, although distrust persists among various components within the IGOEC.

Positive growth in some industries, such as manufacturing and services, has boosted the country’s economy, which grew 0.7% in the second quarter of the year , marking two consecutive quarters of progress.

Added to this is the eventual “respite” granted by the United States to Mexico, with the 90-day pause on the 30% tariffs, which are scheduled to take effect on August 1.

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El cargo After stagnation, Mexican business confidence rebounds in July apareció primero en T21.

The uncertain environment generated by the United States tariffs has undermined the confidence of Mexican businesspeople in their investment decisions, according to the Global Indicator of Business Opinion Confidence (IGOEC) , which stood at  48.7 points last May , representing a drop of 5.9 units in its annual comparison, the National Institute of Statistics and Geography (INEGI) announced on Monday  .

According to figures obtained from the  Monthly Business Opinion Survey (EMOE) , this weighting also represented an increase of  0.1 points  compared to April 2025.

With this latest observation, the indicator has now been below the 50-point threshold for three consecutive months .

The organization detailed that, in the fifth month of the year, the Business Confidence Indicator (ICE) for manufacturing industries was 49.5 points, which was 1.2 points higher than last April. The monthly variation in the indicator resulted from increases in four of its five components; the only one that showed a decrease was the country’s current economic situation, which fell by 0.1 points.

The Construction ICE index was 46.4 points, a 0.3-point decrease compared to the previous month. The component that saw the greatest decrease was the current economic situation of the company , which fell 2.3 points.

Last May, the ICE trade index fell 0.5 points compared to the previous month, reaching 46.8 points. Three of the five components of this indicator reported decreases, with the country’s future economic situation showing the greatest decline, at 1.4 points.

In the reference month, the ICE for private non-financial services fell 0.1 points compared to April 2025, reaching 49.7 points. The current economic situation of the company was the component that most concerned business owners, with a drop of 1.2 points.

Due to a slowdown in the Mexican economy, resulting from various factors, including the threat of tariffs being imposed by US President  Donald Trump , the  Bank of Mexico (Banxico)  lowered its economic growth forecast for the country from  0.6% to 0.1%  for 2025.

This forecast follows the World Bank’s (WB) forecast  , which had already lowered its growth expectations for the Mexican economy from  1.5%  to  0%  for this year, due to “a complicated external environment.”

Furthermore, the International Monetary Fund (IMF) also  estimated a 0.3%  contraction   in Mexico’s GDP, which could lead to a recession in the country by 2025.

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El cargo Tariffs contribute to a decline in business confidence in Mexico in May apareció primero en T21.

The uncertainty generated by the United States’ economic policy with the imposition of tariffs has affected business confidence when deciding to invest, according to the Global Indicator of Business Opinion Confidence (IGOEC) , which stood at 48.6 points last April , as revealed this Friday by the  National Institute of Statistics and Geography (INEGI) .

According to figures obtained from the  Monthly Business Opinion Survey (EMOE) , this weighting represented a drop of 0.6 points compared to March 2025 and 6.2 points compared to the previous year.

The agency detailed that, in April 2025, the manufacturing industry confidence indicator was 48.5 points , which was 1.2 points lower than last March, and represented the second consecutive month with declines.

The components that make up the aforementioned indicator fell, with the one related to whether it is the right time to invest standing out with a drop of 3.2 points .

Meanwhile, construction reported a positive result, achieving a monthly increase of 0.1 points in April; the component that showed the greatest growth was the one related to the company’s current economic situation, with an increase of 1.8 units .

In turn, the  trade sector  confidence indicator decreased 1.8 points compared to March 2025, reaching 47.4 points . The largest decline was related to the company’s future economic situation, with a decrease of 2.9 points .

The non-financial private services confidence indicator increased 0.2 points month-over-month to 49.7 points ; the right time to invest was the component with the largest increase, rising 1.9 points during the period.

According to CIAL Dun & Bradstreet , the Mexican economy is facing a complex situation, characterized by stagnant productive activity and a slowdown in employment.

The firm, which specializes in providing technological solutions and data,  considered that this stems from local factors such as the elimination of autonomous bodies and reforms to the Judiciary , as well as external factors such as the uncertainty surrounding U.S. tariffs , which have negatively impacted Mexico’s economic performance.

Under this scenario, the International Monetary Fund (IMF) revised its growth forecasts for Mexico, projecting a 0.3% contraction in 2025, in contrast to the 1.4% growth estimated last January.

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In November 2024, the Business Confidence Indicator (ICE) for manufacturing industries decreased compared to the previous month, as did that for commerce and non-financial private services, although that for construction showed an increase, according to what the National Institute of Statistics and Geography (Inegi) revealed on Monday .

According to figures obtained from the Monthly Business Opinion Survey (EMOE) , the ICE of manufacturing industries in the eleventh month of the year was 52.1 points, which represented a decrease of 0.1 points compared to the previous month, and an annual drop of 2.1 points.

Meanwhile, the trade sector last November stood at 51.8 points, which meant a decline of 0.5 points compared to October 2024, and compared to the eleventh month of 2023 it fell by 4.5 units.

In the same month, business confidence in non-financial private serviceswas 51.7 points, which decreased by 6.2 units in the same month of 2023, and represented a decrease of 0.6 points compared to October of this year.

In the first 11 months of the year, the construction sector stood at 49.2points, which meant a slight advance of 0.2 points over the previous month, and a decrease of 2.6 points annually.

Regarding the  Global Business Opinion Confidence Indicator (IGOEC) , which is the weighted average of the indicators of these sectors, it reached 51.5 points in November 2024 and represented a decrease of 4.6 points in relation to the same month of the previous year.

These results indicate a  low perception of confidence  among the different business sectors in three indicators in that month, which were in the manufacturing industry, trade and non-financial private services. Meanwhile, the construction sector showed some optimism by having a slight rebound compared to October of this year.

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El cargo Low business confidence in manufacturing, trade and non-financial private services in November apareció primero en T21.

In August 2024, the Business Confidence Indicator (ICE) for manufacturing industries showed an upward trend compared to the previous month, as did that of construction, although that of commerce and non-financial private services decreased, according to what the National Institute of Statistics and Geography (Inegi) revealed on Monday .

According to figures obtained from the Monthly Business Opinion Survey (EMOE) , the ICE of manufacturing industries in the eighth month of the year was 53.2 points, a growth of 0.2 points over the previous month, and an annual drop of 0.5 points .

Meanwhile, the construction sector in August stood at 51.1 points, an increase of 0.5 points compared to July 2024, while compared to the same month in 2023 it fell by 1.4 points.

In the eighth month of 2024, the ICE trade index was 52.8 points , decreasing 0.3 points monthly and falling 3.7 points annually.

In the same month, business confidence in non-financial private services was 53.1 points, down 1.4 points compared to July this year and down 5.5 points year-on-year.

Regarding the Global Business Opinion Confidence Indicator (IGOEC) , which is the weighted average of the indicators of these sectors, it reached 52.8 points in August 2024 and represented a decrease of 3.6 points in relation to the same month of the previous year.

These results indicate a varied perception of confidence among the different business sectors . While some, such as manufacturing and construction, are optimistic, others, such as trade and non-financial private services, show a drop in confidence compared to 2023.

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