Mexico: Business confidence improves slightly in February
March 3, 2011
In February, the producer confidence indicator (ICP, Indicador de Confianza del Productor) increased 0.7 points to 51.8 points, marking the ninth consecutive month that the index has exceeded the 50-point threshold that separates optimism from pessimism. The rise in business sentiment was broad-based, as all its components improved over the previous month. Meanwhile, the purchasing manager's index (IPM, Indicador de Pedidos Manufactureros), which measures the performance of the manufacturing sector from the previous month, remained broadly stable over the previous month. In seasonally adjusted terms, the IPM dropped 0.1% in February over Janury. The reading reflected slower performance of supplier deliveries.