Goldman Sachs
May 10, 2026
Mexico Consumer Confidence and Business Sentiment Update
Market ReportMacro Economic IndicatorsIndustrialsConsumer Discretionary
Mexico's consumer confidence rose slightly to 44.4 in April, but remains well below previous highs, while business sentiment and PMIs continue to track in contractionary territory.
Key Takeaways
- 1.The Inegi consumer confidence index saw a slight recovery of 0.2pt in April to 44.4 sa, though it remains significantly below its October 2024 peak.
- 2.Business confidence (IGOEC) has remained below the 50-neutral threshold for fourteen consecutive months, indicating persistent pessimism.
- 3.Manufacturing and Non-Manufacturing PMIs are largely tracking in contractionary territory, signaling a weak start for the Mexican economy in 2026.
Table of Contents
- Bottom Line
- DETAILS
- Disclosure Appendix
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Authors
Alberto Ramos
Securities
Inegi Consumer Confidence IndexGlobal Indicator of Business Confidence (IGOEC)Markit Manufacturing PMI
Themes
Economic Sentiment DivergenceIndustrial ContractionManufacturing Margin Compression
Regions
Latin AmericaMexico