In November 2025, private consumption in Mexico decreased by 0.5% on a monthly basis , breaking a streak of five consecutive months in positive territory and also marking the third drop in this indicator during the past year, according to the National Institute of Statistics and Geography (Inegi) .
In the penultimate month of 2025, the Monthly Indicator of Private Consumption (IMCP) stood at 112.9 points. Year-on-year, it registered an increase of 2.8 percent.
“ The IMCP measures household spending on consumer goods and services , both domestic and imported. This allows for monthly monitoring of the most significant component of Gross Domestic Product (GDP), on the demand side,” stated INEGI.
According to seasonally adjusted figures and monthly rates, consumption of domestically produced goods and services increased by 0.1 percent. Within this category, both goods and services rose by 0.1 percent.
Regarding imported goods , consumption fell 2.9% in November 2025 compared to last October.
On an annual basis, spending on domestic goods and services grew 1.1%, and spending on imported goods increased 12.1%.
The International Chamber of Commerce Mexico (ICC Mexico) estimated that, although private consumption has remained relatively stable, this indicator continues to reflect the effects associated with uncertainty regarding US economic policy, the review of the United States-Mexico-Canada Agreement (USMCA) , and the international geopolitical environment, “so a vigorous recovery is not anticipated during the year.”
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