In the third quarter of 2025 (3Q25), Mexico’s Gross Domestic Product (GDP) totaled  35.2 trillion pesos, representing a growth of 4.1% compared to the same period in 2024, the National Institute of Statistics and Geography (Inegi) announced this Thursday .

During the reference period, the  remuneration of salaried workers , by the income method, was the component that registered the greatest increase among productive agents, with an increase of 9.9% at an annual rate and an amount of 11 trillion pesos, which meant a participation of 31.4% of GDP.

According to the agency, the  gross operating surplus , that is, business profits, represented 39.6% of GDP in Q3 2025, with an annual growth of just 0.8 percent.

Gross mixed income ,  related to self-employed workers and small businesses, had a share of 21.6% of GDP in the comparison cycle, with a slight rebound at an annual rate of 0.4 percent.

Meanwhile, final consumption , measured by the expenditure method, was the component that sustained domestic demand with 29.3 trillion pesos, representing 83.3% of GDP in Q3 2025, and an annual growth of 4.6 percent.

Exports reached 13.6 trillion pesos during the period, representing 38.6% of GDP and a 6% increase compared to the third quarter of 2024 (3Q24), reflecting greater dynamism in Mexican foreign trade. Imports grew  5.9 % year-on-year, contributing 40.6% to GDP.

Meanwhile, gross fixed capital formation –investments in infrastructure, machinery and equipment– totaled 7.7 trillion pesos in the third quarter of 2025, although it registered a 4.9% drop compared to Q3 2024. This component accounted for 22% of GDP.

The quarterly Gross Domestic Product results, calculated using the income and expenditure approach , reflect the strength of domestic consumption , which is one of the driving forces of the Mexican economy.

According to estimates from BBVA Research , a moderate start to private spending is expected in 2026 , although a gradual recovery in consumption could be observed during the course of the year, “as the real wage bill strengthens and uncertainty related to US trade policies decreases.”

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After closing 2025 with a monthly increase of 0.6 points, consumer confidence in Mexico fell in January 2026 , due to the economic situation in households and the increase in the price of some products and services, the National Institute of Statistics and Geography (Inegi)  and the  Bank of Mexico (Banxico) reported on Friday .

According to the Consumer Confidence Indicator (CCI), during the first month of the year, consumer confidence registered a decrease of 0.6 points compared to December 2025. The indicator also fell in its annual measurement, with a decline of 2.7 units last January.

Within it, and with seasonally adjusted figures, monthly decreases were observed in the five components that make up the ICC .

Last January, the component that measures the current economic situation of household members compared to what it was 12 months ago was the one that fell the most, registering a drop of 0.9 monthly points.

This was followed by the expected economic situation of household members within 12 months compared to the current situation, with a decrease of 0.7 units compared to December 2025.

The country’s economic situation today compared to 12 months ago, and the country’s expected economic situation in 12 months compared to the current one, registered declines of 0.5 points each, compared to the last month of last year.

Meanwhile, the indicator that measures the current ability of household members, compared to a year ago, to make purchases of furniture and appliances, decreased by 0.4 units per month.

On an annual basis, four of the five components that make up the ICC registered declines , with the expected economic situation of the country in 12 months compared to the current one showing the greatest decline at 6.5 points.

Conversely, the ability of household members to make purchases of furniture and appliances at the present time, compared to a year ago, was the only component that grew, with 0.4 units compared to January 2025.

Private consumption is one of the most important components of the Mexican economy, since between this indicator and investment, they represent 80% of the country’s Gross Domestic Product (GDP).

However, projections from international institutions and organizations, such as the International Chamber of Commerce Mexico (ICC Mexico) , have indicated that a recovery in spending on goods and services is not anticipated during 2026, due to the effects of tariffs from the American Union and the review of the Treaty between Mexico, the United States and Canada (USMCA) .

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Mexicans continue to show caution when purchasing goods and services, which affected private consumption in September 2025, which remained unchanged compared to August after three months of increases, the National Institute of Statistics and Geography (Inegi) announced .

In the reference month, the Monthly Indicator of Private Consumption (IMCP) stood at  112.4 points . In its year-on-year comparison, private consumption increased by 2.1% in the ninth month of 2025.

According to seasonally adjusted figures and monthly rates,  the consumption of  goods and services of national  and imported origin did not register any variation .

In its year-on-year comparison, spending on domestic goods and services rose 0.5% , while spending on imported goods increased by 9.1% .

According to analysts, domestic consumption is not yet showing clear signs of recovery towards the second half of the year , particularly due to a continued deterioration in consumer confidence, who have even changed their habits by purchasing lower-cost or private-label products.

Factors such as inflation, slower growth, low employment expectations, and external pressures have impacted consumer confidence, leading to reduced spending, according to the consultancy Kantar .

Measuring private consumption is important because it represents the spending by Mexican families on the purchase of goods and services, making it a key indicator of the economy.

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