Mexico Economic Activity Falls in February

Mexico's economic activity fell 0.3% year-on-year in February 2026, matching January's decline, as the secondary sector contracted 1.3% driven by a 2.2% drop in manufacturing output and a 1.5% decline in utilities production. In contrast, the primary sector expanded 2.3%, supported by a 2.8% advance in livestock activity and a 2.1% rise in agriculture, while the services sector increased 0.1% thanks to a 4.6% surge in healthcare and social security activities. On a seasonally adjusted monthly basis, economic activity rose 0.1%, rebounding from a 0.9% drop in January.

Mexico’s economic activity index fell 0.3% year-on-year in January 2026, following a 3.3% expansion in the prior month and marking the strongest drop since August 2025. The secondary sector led losses, falling 1.1%, driven by a 3% contraction in manufacturing. Services increased 0.1%, supported by a 3.8% rise in healthcare and social security activities. Meanwhile, the primary sector expanded 1.6%, as livestock activity advanced 3.5% and agriculture rose 0.8%. On a seasonally adjusted monthly basis, economic activity fell 0.9%, following a 0.2% rise in December.

Mexico’s economic activity index rose 3.3% year-on-year in December 2025, rebounding from a 0.1% decline in the prior month and marking the strongest expansion since July 2024. The primary sector led gains, surging 11.4%, driven by a 14.8% jump in agriculture, while livestock activity grew 3.2%. Services increased 3.2%, supported by a 17.1% rise in cultural, sports and other recreational activities. Meanwhile, the secondary sector expanded 2.4%, as construction advanced 6.6% and utilities rose 3.9%. On a seasonally adjusted monthly basis, economic activity grew 0.4%, following a 0.1% drop in November.