Business Confidence in Mexico Drops in October

Business confidence in Mexico fell by 0.2 points in October compared to the previous month, reaching 48.2 points on a seasonally adjusted basis. The decline reflects a cautious outlook on current and future economic conditions, according to the National Institute of Statistics and Geography (Inegi).

As a result, the Global Business Confidence Index (IGOEC) has remained below the 50-point threshold for 20 consecutive months.

On an annual basis, business confidence declined by 0.3 points compared to October 2025, marking 29 consecutive months of year-over-year decreases.

Private non-financial services recorded the weakest monthly performance, while manufacturing posted the highest confidence level among the four sectors included in the IGOEC.

The Global Business Confidence Index and the Business Confidence Indicators (ICE) are based on the Monthly Business Opinion Survey (EMOE), which measures how executives in the manufacturing, construction, trade, and private non-financial services sectors perceive the economic conditions of both the country and their companies.

The component measuring companies' current economic situation in the private non-financial services sector registered the largest monthly increase, rising by 2.2 points. Meanwhile, the component assessing whether it was a good time to invest recorded the sharpest decline, falling by 5.1 points from September.

Business confidence in the commercial sector fell by 0.3 points in October compared to the previous month, reaching 48.5 points. This marked the 20th consecutive month below the 50-point threshold.

Among its components, perceptions of companies' current economic situation improved by 0.6 points, while expectations regarding their future economic situation recorded the sharpest decline, dropping by 1.7 points.

Meanwhile, the Business Confidence Indicator for manufacturing industries increased by 0.3 points in October compared to September, reaching 48.4 points. This marked the 19th consecutive month the indicator remained below 50 points.

Among its five components, assessments of companies' current economic situation recorded the largest monthly improvement, rising by 1.1 points. In contrast, perceptions of whether it was a good time to invest declined by 0.4 points.

The Business Confidence Indicator for the construction sector rose by 0.4 points compared to September, reaching 48.1 points and marking its 26th consecutive month below the 50-point threshold.

Assessments of companies' current economic situation recorded the largest increase, rising by 2.2 points. By contrast, expectations regarding the country's future economic situation declined by 1.1 points during the period.