Industrial activity in Mexico registered a 0.9% monthly decline in March 2025, compared to last February. In annual terms, the decline was 1.3% , according to figures from the Monthly Industrial Activity Indicator (IMAI) , compiled by the National Institute of Geography and Statistics (INEGI) .
By sector, mining had a reduction of 2.7% , while manufacturing industries and generation, transmission and distribution of electric power, water supply and natural gas , fell 1.1% on a monthly basis .
Despite the negative figures in other sectors, construction showed an increase of 0.8% , being the only one with monthly growth .
On an annual basis, all sectors experienced significant declines. Miningshowed a 10.1% decrease , followed by electricity, water, and gas , with a 3.4% drop . Meanwhile, manufacturing suffered a 1% decline .
The construction industry reported a 2.1% increase , being the only sector that saw an annual increase.
According to experts, the impact of US tariffs has generated political and economic uncertainty, leading to a decline in Mexico’s industrial activity and a decline in domestic demand for goods and services.
According to Fitch Ratings , Mexico could face a technical recession as a result of the tariffs imposed by the United States, in addition to the fact that it has cut its growth projection for the country in 2025.
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