The Mexican manufacturing industry showed a slight recovery in July 2026, although with mixed signals in its main indicators, according to the Monthly Survey of the Manufacturing Industry (EMIM).
According to the National Institute of Statistics and Geography (Inegi) , the physical volume of production increased 0.9% in the seventh month of the year compared to last June and advanced 1.6% at an annual rate, while the employed personnel remained unchanged at a monthly rate and fell 1.4% compared to July 2025.
The production figure represents a rebound after the weakness observed in previous months, but its interpretation requires nuance.
The progress was not accompanied by a recovery in employment or hours worked , which grew by a mere 0.1% month-on-month and declined by 1.1% year-on-year. This points to an industry that is producing more, but is still operating cautiously in terms of hiring and utilizing its workforce.
In contrast, average real wages paid increased by 1.4% monthly and 4% annually.
Performance by subsector showed that the rebound was not uniform throughout the cycle. The manufacture of petroleum and coal products registered the highest annual production growth at 14%, followed by the manufacture of computer, communication, and other electronic equipment at 12.6%.
Also noteworthy was the manufacture of machinery and equipment with an annual increase of 6.4%, while the wood industry rose 2.2% and the chemical industry advanced 1.8% year-on-year.
Conversely, the manufacture of clothing fell 6.3% annually, and the plastics and rubber industry declined 2.5% annually.
In the case of transportation equipment manufacturing , one of the most important sectors for Mexican supply chains, production decreased by 0.8% year-on-year. At the same time, employment in this sector fell by 3.3%, and hours worked declined by 0.6% year-on-year.
The combination of these indicators paints a less optimistic picture than that suggested solely by production growth. The monthly increase indicates a recovery in manufacturing activity, but the year-on-year decline in employment and hours worked shows that companies are still maintaining a cautious stance regarding their operational capacity.
Furthermore, the performance across industries reflects that the recovery is concentrated in specific activities. Sectors such as electronics and machinery maintain greater dynamism, while other branches face lower levels of production and employment.
For logistics chains, this difference is relevant: manufacturing with higher production in certain segments, but lower employment and working hours, can imply adjustments in inventories , installed capacity, supply and transport as each industry responds differently to market conditions.
Overall, July 2026 shows signs of recovery in manufacturing, although insufficient to consider a widespread expansion.
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