Introduction
Economic fluctuations create expectations that serve as positive or negative incentives for investment. Currently, amidst a global leadership dispute and shifts in international trade models, countries face an external uncertainty context. It is crucial for nations to have sufficient capacity to ensure internal market confidence. In recent months, Mexico has shown resilience in building business confidence despite ongoing international uncertainties.
Mexico’s Business Confidence Index
According to the August 2025 Mexican Enterprise Opinion Survey (EMOE) by the National Institute of Statistics and Geography (INEGI), the Global Indicator of Business Confidence (IGOEC) stood at 49.3 points, reflecting a monthly increase of 0.4 points but an annual decrease of 3.4 points. This modest monthly advance suggests that, despite a volatile global context, the business sector perceives improvements in the country’s and its companies’ economic situation, demonstrating adaptability to external challenges like trade tensions or international market fluctuations.
Key Sectors and Their Performance
The “private non-financial services” sector stands out as a pillar of this resilience, reaching 50.4 points and remaining above the 50-point threshold for the second consecutive month, indicating optimism. This growth of 0.3 points compared to July reflects a positive perception of the country’s and companies’ future economic situation (56.7 points) and performance (59.6 points), suggesting that diversification strategies and domestic demand have sustained confidence in this sector.
- Private Non-Financial Services: 50.4 points, optimistic outlook
- Commercial Sector: 48.5 points, showing recovery trend after months of uncertainty
- Construction: 46.2 points, facing challenges with indicators below the 50-point threshold
- Manufacturing Industries: 49.4 points, also below the 50-point threshold for consecutive months
Despite challenges, stability in components like the medium-term economic outlook for companies in these sectors (59.8 points in Construction and 56.4 points in Manufacturing) reveals a mitigating long-term perspective that counteracts immediate pessimism. This duality between struggling and thriving sectors highlights Mexico’s economic heterogeneity but also its ability to balance through strong areas like services.
Global Context and Internal Policies
The international context, marked by geopolitical and economic uncertainty, has put pressure on supply chains and global investment. Nevertheless, the monthly IGOEC increase and improvements in key sectors suggest that internal policies, such as public investment promotion and national industry incentives, have partially offset these effects.
Although the indicator has fallen below 50 points for six consecutive months, the recent upward trend indicates a collective effort to maintain confidence.
Conclusion
Mexico has successfully constructed a business confidence scenario amid global adversities, relying on resilient sectors like “services and commerce” and an optimistic outlook in affected areas. This balance reflects an economy that, despite facing challenges, demonstrates adaptability and potential for stabilization, provided internal favorable conditions are maintained and external risks are mitigated. In the short term, internal private sector confidence generates equilibrium to effectively navigate the changing and uncertain external environment.
Key Questions and Answers
- What is the current state of Mexico’s business confidence? Despite global uncertainties, Mexico has shown resilience in building business confidence, with the Global Indicator of Business Confidence (IGOEC) at 49.3 points in August 2025.
- Which sectors are performing well? The “private non-financial services” sector has demonstrated strength, with an IGOEC score of 50.4 points, indicating optimism.
- How have global uncertainties affected Mexico’s economy? Global geopolitical and economic uncertainty has put pressure on supply chains and investment, but internal policies have partially offset these effects.
- What does the recent upward trend in IGOEC indicate? The recent upward trend in the IGOEC suggests a collective effort to maintain confidence amidst ongoing challenges.
