Economic activity last November is believed to have fallen due to a decline in secondary activities, following the setback it also experienced in October 2025
The Timely Indicator of Economic Activity (IOAE) , prepared by the National Institute of Statistics and Geography (Inegi) , anticipated a 0.2% monthly decline in Mexican economic activity in the penultimate month of 2025. On an annual basis, the IOAE would remain unchanged.
By economic activity groups, an annual decrease of 1.5% is expected in secondary activities (manufacturing and construction), and an increase of 0.8% in tertiary activities, which include services such as trade, transport and storage, communications, education and health.
On a monthly basis, a 0.2% decrease is anticipated in the Global Indicator of Economic Activity (IGAE) . A 0.3% decline is projected for secondary activities and a 0.1% decline for tertiary activities by November of this year.
According to estimates from the Economic Commission for Latin America and the Caribbean (ECLAC) , the country’s Gross Domestic Product (GDP) would barely grow 0.4% in 2025 , due to tariff uncertainty, weak domestic consumption and a drop in investment.
In presenting the Preliminary Overview of the Economies of Latin America and the Caribbean 2025 , the organization also projected that the Mexican economy could grow 1.3% in 2026 , due to factors such as greater trade certainty, as well as the possible ratification of the United States-Mexico-Canada Agreement (USMCA) and the positive effects of the World Cup on tourism.
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