The confidence of Mexican businessmen has grown during March in all sectors, adding two months to growth, showed the National Institute of Statistics and Geography (Inegi).
According to the Monthly Business Survey (EMOE), business confidence in the sector manufacturer increased by 0.8 points in the third month of the year compared to February and increased by 0.6 for the sector construction, while for private non-financial servicesincreased by 7.1 points, and for trade 1 point
Business Confidence Indicators (ICE) they analyze how business managers of these four sectors perceive the economic situation of the country and its companies, as well as their expectations for the future.
Expectations for them recorded growth in four sectors in February. In turn, in January, they grew in construction and manufacturing, while in private non-financial services and trade fell.
In the third month of 2023 in annual comparison, trust in private non-financial services increased by 2.1 points; manufacturing industry – 1.2 points; commerce was down 5.6 points and construction was down 3.1 points.
In turn, the average of the four sectors shows that Global Indicator of Business Opinion (IGOEC) in March it was 52.9 points, down 0.3 points compared to the same month in 2022. Similarly, it fell from 45 points in December.
On March 24, Inegi reported that The Mexican economy grew by 0.6% in January. thanks to the strengthening of the service sector. With these figures, the Global Economic Activity Indicator (IGAE) has recovered pre-Covid-19 levels, 0.4% above the level reached in January 2020.
Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
