Industrial activity grew 2.4% in July, its best result in nearly 3 years
In July, industrial activity in Mexico was up 2.4% in annual seasonally adjusted terms, the sector's strongest growth since November 2023. The post Industrial activity grew 2.4% in July, its best result in nearly 3 years appeared first on Mexico News Daily
Industrial activity in Mexico expanded 2.4% in July, marking the best performance in nearly three years, according to the national statistics agency INEGI. The annual growth rate was the strongest since November 2023, driven primarily by the construction sector, which saw a 6.7% increase. Mining activity also grew 1.6% annually, while manufacturing activity rose 1.3%.
Month-over-month, construction activity increased 0.9%, and manufacturing activity grew 0.7%. The electricity, gas, and water sector experienced a 0.0% month-over-month change, whereas mining activity saw a decline of 1.8%. Year-over-year, industrial activity growth in July was triple the 0.8% growth seen in June. This marks the second consecutive month of sequential growth in industrial activity, and the fourth consecutive month of annual growth.
In the first seven months of 2026, industrial activity grew 0.4% compared to the same period in 2025. Mining activity increased 3.5% annually, while construction activity grew 2.8%, but manufacturing activity declined 0.7% year-over-year. The modest year-over-year growth follows a contraction of 1.3% in 2025. Economists from Grupo Financiero Monex anticipate that industrial activity will continue to grow moderately in the coming months, citing USMCA-related uncertainty and potential U.S. tariffs on strategic Mexican goods such as vehicles, steel, and aluminum as potential constraints.
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