Business confidence increased 0.2 points, supported by construction

Mexico City. The confidence of Mexican businessmen showed a slight increase in April to confirm its stability, supported by construction, commerce and services, revealed data from the National Institute of Statistics and Geography (Inegi).

With original figures, the Global Indicator of Business Confidence Opinion (Igoec), which is the weighted average of the indicators of the four sectors that comprise it – (manufacturing, construction, commerce and private non-financial services) – was 55 points in April, which represented a monthly and annual advance of 0.2 points.

Igoec finished last December at 56.2 points; Subsequently, in January of this year it stood at 56 units, for February the reading was 55 points; and for March of 54.8 units. Business confidence reached peak levels in 2023, so the comparison is still positive, but it already shows a slowdown.

Thus, business confidence, which measures the ‘mood’ of businessmen, a variable that conditions production and investment decisions in the short and medium term, reported a slight monthly advance in April, caused by the optimism shown by the business community in the sector. construction, commerce and non-financial services.

In a context where the Mexican and US economies, its main trading partner, showed strength in the first quarter of 2024, the business class recognizes that both economies will slow down soon, although the dimension of the lower performance is not clear.

The Inegi released the business confidence indicators, where it revealed that the businessman in the manufacturing sector, with seasonally adjusted figures, the Business Confidence Indicators (ICE) of manufacturing industries fell 0.2 points monthly in April, due to a reported deterioration at the right time to invest; the current economic situation of the country; future economic situation of the country and present economic situation of the company; and only the company’s future economic situation advanced 0.6 points monthly.

The right time to invest stood out among entrepreneurs in the manufacturing sector, with an annual advance of 5.6 points in April, which contributed to the indicator’s advance of 1.2 points compared to April 2023.

The remaining ones, construction (advance of 0.6 points monthly and fall of 2.1 units annually); trade (up 0.2 points monthly and fell 1.3 annually); Meanwhile, non-financial private services advanced 0.3 and 1.0 points in April.