Overview
- INEGI reported the index at 44.2 after a 1.6‑point monthly fall and 3.5‑point annual decline, its lowest level since December 2022.
- All five components weakened, signaling broader pessimism on current and expected conditions as well as a reduced willingness to buy durable goods.
- Labor expectations worsened notably, with the employment outlook for the next 12 months down 1.09 points month over month and 5.99 points year over year, marking 12 straight annual declines.
- El Buen Fin discounts failed to lift sentiment, and complementary indicators showed weaker views on saving and big‑ticket purchases.
- Cyclical data remain mixed as coincident gauges stay below trend, the leading indicator sits above trend suggesting a potential rebound, private consumption and investment are soft, remittances fell 1.7% year over year in October, and private forecasts for 2026 GDP were cut to 1.37%.