Mexican business confidence rose 8.5% in September compared with the same month in 2022, driven by a slowdown in trade and construction. National Institute of Statistics and Geography (Inegi).
According to Monthly Business Opinion Survey (EMOE), businessmen’s confidence in the sector manufacturer a slight increase of 0.1 points was registered in the ninth month of the year compared to August.
At the same time, an increase of 0.1 was recorded for private non-financial services, breaking with the decline that has occurred since May. Added to this construction, which increased by 0.7%.
On the contrary, those from trade Over the past month, a decrease of 0.8 points was recorded.
The Indicators of Business Confidence (ICE) analyze the perceptions of business managers in these four sectors about the economic situation of a country and its companies, as well as their expectations for the future.
Expectations for the construction sector have been steadily declining since May. However, in the ninth month of 2023 it increased by 0.7 points.
In September and in annual comparison, confidence in non-financial private services increased by 15.6 points, and in manufacturing by 2.6 points. Likewise, the trade indicator increased by 2.1 points and the construction indicator increased by 2.2 points.
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Meanwhile, the four-sector average shows that the global gauge of opinion on business confidence (IGOEC) stood at 56.4 points in September, representing an increase of 8.5 points compared to the same month in 2022.
The lowest level of business confidence across the four sectors was that which assesses confidence that there will be a good time to invest in at least the next 12 months. This was below the 50-point benchmark in all sectors except non-financial private services, where it was set at 52.9 for the first time in the year.
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.
