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Business confidence improves in November – El Sol de México

Business confidence in Mexico improved in November 2023, driven by the private services, manufacturing and commerce sectorrevealed data from the National Institute of Statistics and Geography (Inegi).

He Global Business Confidence Opinion Indicator (IGOEC), which is the weighted average of the indicators of the four sectors that comprise it, stood at 56 points in the penultimate month of the year and represented an increase of 6.4 points compared to the same month of 2022, with original figures.

With this result, The perception of businessmen added its nine consecutive months with increases and its highest level since last September.

According to the Business Confidence Indicators (ICE) of non-financial private services increased 10.2 points; that of manufacturing industries, 3.7; that of commerce, 3.5 and that of construction, 1.3 points.

On a monthly basis, the manufacturing ICE did not report any relevant variation last month, mainly due to the fact that three of its five components presented monthly declines.

On the contrary, Business confidence in the commerce sector observed a monthly increase of 0.5 units in November. Four of the five components that make up the indicator advanced during the month, among which the one that evaluates whether it is the right time to invest with a increase of 2.5 points.

He non-financial services sector registered a monthly growth of 0.9 points. Four of the five components that make up it observed a increase during November. The one of The greatest reduction was related to the current economic situation of the company with an increase of 2.0 units.

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On the contrary, The business confidence indicator for the construction sector reported a monthly decline of 0.5 points. Of the two components that reported a decrease, the one related to whether it is the right time to invest stands out with a monthly decrease of 4.9 units.

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