Monday, On the Margin
Business and consumer confidence, SOFIPOs, vehicle sales, asset managers, APR on credit cards, remittances, employment and border crossings.
As we published on our “Predictions” article a couple of weeks ago, starting this week, you’ll receive two weekly emails from us:
The Standard Essay – Published every Thursday, this article will focus on a company, industry, or macro trend, providing you with in-depth analysis and insights.
On the Margin – Sent on Mondays, this will summarize the most important data points related to Mexico from the previous week, supported by the extensive data sources we at tukan have been curating for over three years.
We hope you find these updates useful! If you have any questions, don’t hesitate to get in touch with us.
Weary companies
Business confidence contracted by 7.2% year-over-year (YoY) in December but showed a slight improvement compared to November (+1.3% month-over-month, MoM).
This marks the 23rd consecutive month of an overall “optimistic” business sentiment, according to INEGI data. However, a closer look at individual industries reveals a cautious outlook: construction executives lean toward a “pessimistic” outlook, with manufacturing and wholesale companies following closely behind.
Investment appetite is also rapidly declining after reaching record-high levels of “excitement” in 2023, driven largely by the aftermath of the country’s controversial judicial reform.
…but optimistic consumers
Consumer confidence remained stable YoY in December, with a slight dip compared to November.
Interestingly, the “intent to purchase” indices for household appliances and vehicles remain near record highs. Vehicle purchase intent rose by nearly 15% YoY, while the intent for home appliances saw a minor contraction of 3% YoY.