Business Confidence (Manufacturing) in Mexico

Captures how managers at Mexican manufacturing firms view current conditions and the outlook for the economy and their own business. It is part of the Business Confidence Indicators compiled monthly by INEGI.

INEGI builds a diffusion index from 0 to 100 (50 = neutral) using the Monthly Business Opinion Survey (EMOE), in seasonally adjusted form. It aggregates qualitative replies on the present and expected situation of the country and of the firm.

It anticipates the cycle of Mexico's manufacturing sector (output, jobs and investment), which is tightly linked to US demand. Readings above 50 point to optimism and an expanding industry; below 50, to pessimism and slowdown.

It is a qualitative opinion survey rather than a direct measure of activity, and can diverge from hard output data. It typically moves markets less than the hard indicators and does not always appear on international reference calendars.