Mexico Economic Activity Growth Beats Forecasts

Mexico’s economic activity rose 2.3% year-on-year in April 2026, beating forecasts of a 1.9% increase and accelerating from a 1.4% rise in March. The primary sector led growth, expanding 4.4%, as agricultural output increased 4.2% and livestock production rose 4.8%. The secondary sector grew 2.3%, supported by stronger construction activity (10.4%) and mining (3.4%). Meanwhile, the tertiary sector advanced 2.2%, with wholesale trade posting the strongest gain at 10.6%. On a month-over-month basis, economic activity rose 1.2%.

Mexico’s economic activity rose 1.4% year-on-year in March 2026, beating forecasts of a 0.5% increase and rebounding from a 0.3% contraction in February. The tertiary sector led growth, expanding 2.8%, supported by strong gains in sport, cultural and recreational services (12.3%), public administration activities (11.3%), and wholesale trade (8.2%). The primary sector also grew 2.2%, as agricultural output increased 2% and livestock production rose 2.6%. In contrast, the secondary sector contracted 1.3%, weighed down by declines in construction (-6.2%) and manufacturing (-1%).

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.