The National Institute of Statistics and Geography (INEGI) announced positive results from the Institute’s Monthly Survey of Business Opinion (EMOE), as Mexican businesses reported a more positive economic outlook in the manufacturing, construction, commerce and non-financial sectors during Dec. 2021.
INEGI’s Business Confidence Indicator for the manufacturing industry showed minimal progress in December in comparison to the previous month. Respondents stated that the economic situation for companies and the time to invest were more positive, as they grew by 0.7 and 0.4 points, respectively. However, respondents were less confident about the future economic situation overall, which fell by 0.5 points, while their confidence in their companies’ future economic situation fell by 0.2 points. In comparison to Dec. 2020, confidence in the country’s economic situation grew by a whopping 17.1 points, showing the strides in Mexico’s economic recovery.
The construction industry and its components showed steady progress, as the Business Confidence Indicator registered an increase in all sections: right time to invest, present economic situation of the country, future economic situation of the country, present economic situation of the company and future economic situation of the company. The right time to invest section showed the strongest monthly progress, growing by 0.5 in comparison to the previous month and nine points from last year. The present economic situation of the country registered the highest yearly growth in the construction industry, up 18.5 points from Dec. 2020.
Trade and its components showed the biggest monthly progress amongst the evaluated industry, with the present economic situation of the country and future economic situation of the company growing by 1.3 points and 1.4 points, respectively. In this sector, confidence in the present economic situation of the country grew a total of 26.4 points year-over-year, recovering investor confidence following the catastrophic collapse of the industry in 2020.
“In its annual comparison, the Business Confidence Indicator (ICE) by activity sector registered the following behavior: the ICE of Commerce increased 13.4 points, that of Manufacturing 9.6 points and that of Construction rose 8.8 points during December of last year,” reads INEGI’s report.