Mexico: business confidence in manufacturing sector falls to historic low

Indicator readings of business confidence in the manufacturing sector show a plunge to its lowest level since 2010, data from the Mexican National Institute of Statistics (INEGI).

The Manufacturing Confidence Index fell to 48.5 points in August, the lowest figure since February 2010 when it recorded 47.2 points.

The indicator, which is defined as the degree of optimism on the state of the economy that business managers feel about the prospects of their companies, was compiled considering five components. It included, among others, the levels of optimism on Mexico’s economic situation, which decreased 2.1 points from July and the economic expectations for the future, which was down 1.8 points from July.

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Overall, the Manufacturing Confidence Index in Mexico fell 4.4 points in August 2015 from the same month last year.