Mexico’s Industrial Output Grows the Most in More Than Two Years

Mexico’s industrial production rose 3.5% year-on-year in August 2026, its strongest increase since April 2024, accelerating from 2.7% in July and significantly exceeding market expectations of a 2.6% gain. Growth was driven by stronger manufacturing activity, which accelerated to 3.2% from 1.6% in the previous month, supported by a further increase in the production of petroleum and coal products (21.4% vs. 14.7%). Construction activity also strengthened, rising 7.5% following a 7.3% increase in July, driven by a sharp acceleration in civil engineering construction (17.6% vs. 2.4%). In contrast, mining production declined by 0.8%, reversing a 1.6% increase in the previous month, as mining-related services contracted (-7.3% vs. 26.0%) and petroleum and gas extraction edged down 0.1%, compared with a 1.6% increase in July. On a monthly basis, industrial production rose 0.6%, up from a 0.5% gain in July.

Mexico’s industrial production rose 2.7% year-on-year in July 2026, the highest level since April 2024, accelerating from 1.7% in the prior month and well above market expectations of a 1.8% gain. Growth was supported by stronger manufacturing activity, which increased 1.6% following a 0.1% rise, mainly driven by a 14.7% jump in the production of petroleum and coal products, which had contracted 2.2% in the prior month. The manufacture of computers and electronic equipment also provided support, rising 14.2% after a 5.8% increase. Construction output growth accelerated further to 7.3% from 5%, driven by buildings (8.2%) and specialized construction activities (7.8%). In contrast, activity slowed sharply in mining, rising 1.6% versus 6.6%, as output of metallic and non-metallic minerals contracted further by 3.7%, while oil and gas extraction growth slowed to 1.6% from 2.9%. On a monthly basis, industrial production increased 0.5%, up from 0.2% in June.

Mexico’s industrial production rose 1.7% year-on-year in June 2026, rebounding from a 0.7% decline in May and beating market expectations of 1.5% growth, with gains recorded across sectors. The recovery was led by mining and quarrying activity, rising 6.6% after a 3.9% gain in the prior month. Gains in construction activity, which rose by 5% after a 0.3% drop, were led by an increase in civil engineering works (8.9%) and buildings (5.2%). Utilities output also rebounded, rising 0.7% after a 0.9% drop. Meanwhile, manufacturing activity edged up 0.1% following a 1.5% decline, led by gains in the manufacturing of computers and communication related equipment (5.8%), machinery and equipment (5.5%) and chemical products (5.3%), which were partially offset by declines in other sectors, namely manufacturing of textile inputs and finishing of textiles (-7.2%). On a seasonally adjusted monthly basis, industrial activity edged up 0.2% in June, rebounding from a 0.8% drop in the prior month.