Mexico's industrial activity rose 2.4% in July
Industrial activity in Mexico rose by 2.4% year-on-year in July 2026, seasonally adjusted. This was the sector's best result in nearly three years, since November 2023, Mexico News Daily reports, citing the national statistics agency INEGI.
Compared with June, industrial activity increased by 0.5%. A month earlier, annual growth stood at 0.8%, while monthly growth was 0.2%.
Construction became the main growth driver
The construction sector recorded the strongest growth in July, with activity rising by 6.7% year-on-year. Mining added 1.6%, while manufacturing grew by 1.3%. The electricity, gas and water supply sector increased by 0.7% compared with July 2025.
On a monthly basis, construction rose by 0.9% and manufacturing by 0.7%. No changes were recorded in the electricity, gas and water sector, while mining declined by 1.8%.
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Figures for seven months
From January to July 2026, Mexico's industrial activity increased by 0.4% compared with the same period of the previous year. Mining added 3.5% over this period, while construction grew by 2.8%.
At the same time, manufacturing, which is the largest component of the industrial indicator, declined by 0.7%. Annual growth in the electricity, gas and water sector over seven months was 0.0%. In 2025, the country's industrial activity fell by 1.3%.
Economists at Grupo Financiero Monex expect moderate industrial growth in the coming months. They noted that uncertainty over the USMCA agreement and U.S. tariffs on certain strategic Mexican goods, including automobiles, steel and aluminum, could restrain investment decisions and export-oriented production.
