Mexico Economic Activity Growth Beats Forecasts

Mexico’s economic activity rose 3.4% year over year in July 2026, beating forecasts of 2.5% and accelerating from a 2.8% increase in June. The tertiary sector led growth, expanding 4.0%, driven by wholesale trade (13%), cultural, sports, entertainment, and recreational services (8.0%), and government activities (4.6%). The primary sector grew 3.4%, supported by a 2.7% increase in livestock production. The secondary sector expanded 2.7%, as mining and manufacturing output both increased 1.6%, while construction activity grew 7.3%. On a monthly basis, economic activity grew 0.8% after falling 0.1% in the previous month.

Mexico’s economic activity rose 2.8% year-over-year in June 2026, beating forecasts of 1.1% and accelerating from a 1.1% increase in May. The tertiary sector led growth, expanding 3.6%, driven by wholesale trade (14.3%), government activities (6.5%) and mass media information (3.8%). The primary sector grew 2.8%, supported by a 5.3% increase in livestock production. The secondary sector expanded 1.7%, as mining output increased 6.6% and construction activity grew 5.0%. On a monthly basis, economic activity declined 0.1% after falling 0.3% in the previous month.

Mexico's economic activity rose 1.1% year-on-year in May 2026, matching forecasts but easing from an upwardly revised 2.6% increase in April. The primary sector led growth, expanding 7.6% as agricultural output increased 8.7% and livestock production rose 5.0%. The tertiary sector advanced 1.7%, driven by wholesale trade (8.8%), government activities (4.9%), healthcare and social services (2.9%), and financial services and insurance (2.6%). Meanwhile, the secondary sector contracted 0.7%, as declines in manufacturing (-1.5%), utilities (-0.9%), and construction (-0.3%) outweighed a 3.9% increase in mining. On a monthly basis, economic activity fell 0.3% after rising 1.4% in April.