In the first days of April, the National Institute of Statistics and Geography (Inegi) published the Business Confidence Indicator (ICE) for the month of March 2023, which measures the manufacturing sector, the Non-financial private services, Commerce and Construction in the country for a statement that it provides every month.
As we reported in The Truth Newswe explain to you that ICE measures the confidence of businessmen in the four sectors mentioned above, analyzes the evolution and projection of each or that it helps to see how the family economy is going and helps analysts to see expectations, whether they are optimistic, neutral or pessimistic.
He INEGI does this ICE on a monthly basis, and for this reason, we are going to explain the comparison that was made to the month of February of the year 2023.
ICE for March 2023
ICE increases went up in March
According to the Inegi statement, the Business Confidence Indicator had an increase compared to the month of February and was left with the following figures by sector:
- Manufacturing sector: it grew 0.8 points compared to February, leaving it at 52.9 points, which puts it over the 50-point threshold for the third consecutive month.
- Non-financial private services: grew 7.1 points and remains at 55.4 points above the threshold of 50 points.
- Commerce Sector: grew one point compared to February and stands at 49.2 points and remains below the 50 point threshold for the seventh month.
- Construction Sector: grew 0.6 points and remains at 48.4 points compared to March and would be the tenth month that it remains below the 50-point threshold.
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ICE increases compared to March 2022
The ICE measures the confidence of businessmen in the 4 sectors mentioned
For the annual comparison, the ICE had an increase of 2.1 points in Private non-financial Services, while Manufacturing Industries rose 1.2 points, 5.6 points in the Commerce sector and 3.1 in Construction.
To get the indicator, it is done through the Monthly Business Opinion Survey (EMOE) that takes the opinion of the different managers of companies in the various sectors that affect the economy.
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