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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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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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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