Mexican business confidence rose 8.8% in December 2023 compared to the same month in 2022, driven by growth across all sectors, it showed National Institute of Statistics and Geography (Inegi).
According to Monthly Business Opinion Survey (EMOE), businessmen’s confidence in the sector manufacturer a slight increase was registered in the last month of 2023 by 0.6 points compared to November.
In turn, the food sector recorded an increase of 0.2 points. private non-financial services, and also for trade.
On the contrary, confidence in construction decreased by 1.1%.
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.
Thanks to these results, manufacturing industries exceeded the 50 point threshold for 31 months in a row, and construction for 12 months.
For its part, the trade sector has exceeded this threshold for 33 months in a row, and the non-financial private services sector has exceeded this threshold for the tenth month in a row.
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In the twelfth month of 2023 and in annual comparison, confidence in non-financial private services increased by 14.8 points, and in manufacturing by 4.1 points. Likewise, the trade indicator increased by 4 points and the construction indicator increased by 2.4 points.
Meanwhile, the four-sector average shows that the global gauge of opinion on business confidence (IGOEC) stood at 56.2 points in December 2023, representing an increase of 8.8 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 across all sectors, with construction being the lowest.
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.
