Mexican industrial activity registered a 0.6% drop during March 2026  compared to last February, according to information released this Tuesday by the  National Institute of Statistics and Geography (Inegi) .

According to figures from the Monthly Indicator of Industrial Activity (IMAI), which allows us to know and monitor the evolution of industrial activity in Mexico,  industrial operations also declined in their annual measurement, showing a contraction of 1.5%  in the reference month.

During the period, declines were recorded in two of the four components that make up the IMAI, with construction showing the largest decrease, falling 3.3% month-on-month; while manufacturing industries decreased 0.2% in March 2026 compared to last February.

Mining was the fastest-growing sector, increasing by 1.7% month-on-month. Meanwhile, the generation, transmission, distribution, and sale of electricity, as well as the supply of water and natural gas via pipelines to end consumers,  saw a 0.3% increase month-on-month.

On an annual basis , the construction sector declined by 5.3%, and manufacturing industries fell by 1.6%.

Conversely, mining registered an increase of 5.8%; and generation, transmission, distribution and marketing of electricity, water supply and natural gas by pipeline to the final consumer rose 0.3 percent.

The decline recorded in the third month of the year in Mexican industrial activity occurs in a complex economic scenario, marked by constant commercial and geopolitical changes, such as the conflict in the Middle East, whose effects are beginning to be felt in various parts of the world.

It is worth remembering that industrial activity is one of the main drivers of the Mexican economy , as it is one of the indicators that reflects the country’s commercial and economic environment.

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After a monthly drop of 1.1% recorded last January, Mexican industrial activity rebounded 0.4% in February 2026 compared to the first month of the year, driven by manufacturing, mining and construction, reported the National Institute of Statistics and Geography (Inegi) .

With the increase recorded in the second month of the year, the country’s industrial activity is beginning to show signs of recovery, in the face of a complex economic scenario, marked by constant trade changes in the world.

According to figures from Inegi,  three of the four components of the Monthly Indicator of Industrial Activity (IMAI) had a positive performance last February , with  manufacturing industries showing the best progress, with an increase of 0.7% over January 2026.

Mining activity grew 0.6% in February 2026 compared to January. Meanwhile, construction activity increased 0.3% month-over-month.

Electricity generation, transmission and distribution, water supply and natural gas was the only component that decreased in the monthly comparison, falling 1.4% in the period.

The Monthly Indicator of Industrial Activity allows us to know and monitor the evolution of industrial activity in Mexico, according to Inegi.

Despite the monthly rebound in February 2026, the IMAI showed a decline in its annual measurement , registering a decrease of 1.3 percent.

Within this indicator, manufacturing industries fell 2.3% year-on-year, while the generation, transmission and distribution of electricity, water supply and natural gas decreased 1.4% last February compared to the same month in 2025.

On an annual basis, construction advanced 1.2% and mining registered a growth of 0.9% in February 2026.

The February rebound in the country’s industrial activity represents the third best reading since October 2025, when the IMAI showed a monthly growth of 0.8%.

Industrial activity is one of the main drivers of the Mexican economy, whose dynamism is linked to job creation and investment. It is also one of the indicators that reflects the country’s commercial and economic environment, and it also impacts other sectors through the supply of inputs.

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Due to an increase in the construction sector, industrial activity in Mexico showed a slight advance of 0.2% in December 2025 compared to last November, according to information released this Wednesday by the  National Institute of Statistics and Geography (Inegi) .

On an annual basis, the Monthly Indicator of Industrial Activity (IMAI) also registered a positive trend, with an increase of 1.5% in the last month of last year.

According to Inegi, the IMAI allows for understanding and monitoring the evolution of industrial activity in Mexico.

According to the December 2025 figures,  three of the four components of the IMAI (Monthly Index of Industrial Activity) performed positively , with  construction registering the greatest growth, rising 1.2% compared to the previous November. This increase stemmed from progress in infrastructure projects, primarily the Interoceanic Corridor of the Isthmus of Tehuantepec.

Meanwhile, the generation, transmission, distribution, and sale of electricity, as well as the supply of water and natural gas via pipelines to the end consumer, increased by 0.7% month-on-month. Mining saw a monthly increase of 0.5%.

Manufacturing industries was the only component that declined, showing a decrease of 0.1% during December 2025 compared to last November.

In its annual reading , construction advanced 6.8%; and generation, transmission, distribution and marketing of electricity, water supply and natural gas by pipelines to the final consumer, increased 3.9% in the last month of 2025.

Mining showed an increase of 0.5%; and manufacturing industries registered an increase of 0.1% year-on-year.

According to specialists, 2026 will be a year of challenges and opportunities for Mexican industry, which will continue to navigate external risks, such as tariffs, and internal risks, such as a volatile economy.

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The positive pace of Mexican industrial activity from last October continued in November 2025, registering a monthly increase of 0.6%, driven mainly by construction , according to information published this Friday by the  National Institute of Statistics and Geography (Inegi) .

In its annual measurement, the  Monthly Indicator of Industrial Activity (IMAI)  fell 0.1% in the penultimate month of 2025.

According to Inegi figures, two of the four components of the IMAI had a positive performance , with construction registering the greatest progress in November, with 1.6% compared to October 2025.

Manufacturing industries increased 0.5% month-on-month; while mining ; and generation, transmission, distribution and marketing of electricity, water supply and natural gas by pipeline to the end consumer , remained unchanged.

On an annual basis, two components experienced declines. Mining fell by 1%, and manufacturing industries slowed by 0.8% during the period.

Construction showed an increase of 3%; and generation, transmission, distribution and marketing of electricity, water supply and natural gas by pipeline to the end consumer, rose 1.1% annually.

The November rebound in Mexico’s industrial activity represents the third best reading of 2025, only below February and October, whose variations were 2.1% and 0.9%, respectively.

The Monthly Indicator of Industrial Activity allows us to know and monitor the evolution of industrial activity in Mexico, according to Inegi.

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Mexican manufacturing activity has experienced fluctuations throughout 2025 due to the impact of changes in U.S. tariff policy, and reportedly showed a negative performance last September.

In the ninth month of the year, the  Timely Monthly Indicator of Manufacturing Activity (IMOAM) , prepared by the  National Institute of Statistics and Geography (INEGI) , anticipated an annual decline of 1.3 percent .

According to INEGI, the IMOAM (Monthly Industrial Activity Indicator) registered a value of  106 points , an advance calculation of the Monthly Industrial Activity Indicator (IMAI) for the manufacturing sector.

BBVA Research estimates   indicate that the manufacturing sector , which has experienced fluctuations throughout the year, will gradually recover, albeit under a backdrop of uncertainty stemming from global tariffs.

Despite the ups and downs that Mexico’s manufacturing industry has experienced so far in 2025, this sector remains a focus of attraction for Foreign Direct Investment (FDI) .

The country’s FDI capture during the second quarter of 2025 (2Q25) reached a new all-time high, reaching $34.265 billion . Of this total, 36% came from the manufacturing sector.

According to INEGI, the IMOAM has established itself as a reliable estimation tool and is continually evaluated against the IMAI for the manufacturing sector.

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In August 2025, Mexico’s industrial activity registered its third consecutive contraction, falling 0.3% monthly, according to information from the National Institute of Statistics and Geography (INEGI) .

A complex economic environment, resulting from U.S. trade policy, as well as a decline in the construction and mining sectors , framed the decline in industrial activity in the eighth month of the year, according to figures from the Monthly Industrial Activity Indicator (IMAI) .

According to Inegi, this indicator also fell in its annual measurement, registering a decrease of 2.7 percent .

Two of the four components that make up the IMAI declined during the period. Construction fell 2.2%, and mining fell 0.7% monthly.

On the other hand, manufacturing industries grew by 0.2%, and the generation, transmission, distribution, and marketing of electric power, water supply, and natural gas pipelines to end consumers grew by 1.3%.

On an  annual basis , all four components registered declines. Mining fell 7%; construction 3.2%; generation, transmission, distribution, and marketing of electric power, water supply, and natural gas pipelines to the final consumer 2.4%; and manufacturing 1.7%.

Mexican industrial activity in August showed mixed performance across its components, with the manufacturing industry recovering compared to last July, when it declined 1.6% monthly.

According to  BBVA Research , this sector remains the backbone of foreign trade , representing nearly 90% of exports by the first half of 2025. This reflects the fact that, despite the decrease in the IMAI in the eighth month of the year, the country’s industry remains resilient to global trade changes.

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The decline in the seventh month of the year stems from a complex economic environment and U.S. trade policy, as well as a decline in sectors such as manufacturing and construction.

According to figures from the  Monthly Industrial Activity Indicator (IMAI) , this indicator also fell in its annual measurement, registering a decrease of 2.8% in the reference month.

According to the agency’s figures, the period was marked by declines in three of the four components that make up the IMAI, with  mining being  the only one that registered an increase, with 1.9% compared to June 2025.

Manufacturing fell 1.6 percent monthly in the seventh month of the year, while  construction decreased 1.2 percent.

In July 2025, generation, transmission and distribution of electric power, water supply and natural gas decreased 0.1% compared to the previous month.

Low domestic demand for goods and services, as well as the current global trading environment, have contributed to the decline in Mexican industrial production last July.

Despite the decline in the manufacturing industry during the period, BBVA Research indicated that this sector remains the backbone of foreign trade, accounting for nearly 90% of exports by the first half of 2025.

The Monthly Industrial Activity Indicator provides insight into and monitoring of the evolution of industrial activity in Mexico, INEGI emphasized.

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According to figures from the  Monthly Industrial Activity Indicator (IMAI) , compiled by the National Institute of Geography and Statistics (INEGI) , this indicator fell 0.1% monthly in the sixth month of the year. The IMAI also fell annually, decreasing 0.8% .

According to the agency’s figures, the period was marked by declines in three of the four components that make up the IMAI, with manufacturing industriesbeing the only one that registered an increase, with 0.3% compared to May 2025.

Mining fell 1.4% monthly in the sixth month of the year; while electricity generation, transmission, and distribution, water and natural gas supply , and construction each decreased 0.2% compared to the previous month.

On an annual basis , mining decreased by 8.5%, and the generation, transmission, distribution, and marketing of electric power, water supply, and natural gas supply through pipelines to end consumers fell by 3.8 percent.

Meanwhile, manufacturing industries remained unchanged, and construction grew 1.5 percent.

Although it has shown slight progress in previous months, low domestic demand for goods and services, as well as the current global trading environment, have contributed to the decline in Mexican industrial production last June.

Manufacturing was the only activity that increased, which was in line with the forecast of the Timely Monthly Indicator of Manufacturing Activity (IMOAM) , prepared by INEGI, which had anticipated this rebound on July 25.

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This increase represented the second consecutive month of progress , after the Monthly Industrial Activity Indicator (IMAI) , carried out by Inegi, increased 0.1% on a monthly basis in April.

In its annual measurement, this indicator, which allows us to understand and monitor the evolution of industrial activity in Mexico, showed a 0.4% drop  in the fifth month of the year.

Driven by building and skilled trades, construction was the component that registered the greatest growth during the reference period, with an increase in activity of 2.8 percent .

The generation, transmission, distribution and marketing of electric power, water supply and natural gas supply through pipelines to the final consumer also had an optimal performance last May, with an increase of 0.4 percent .

Despite the tariff policy promoted by the United States, which has hit manufacturing industries , this sector showed a monthly growth of 0.1% .

On the other hand, mining , which is once again in the crosshairs of US President Donald Trump, who is now seeking to impose a 50% tariff on copper imported into the United States from various countries around the world—although he has not yet provided further details of this new tariff plan—decreased by 1.1% last May.

The current global trading environment, as well as low domestic demand for goods and services, have impacted Mexican industrial production, which has proven resilient with slight gains in the fifth month of the year.

Given this scenario, the  Center for Economic Studies of the Private Sector (CEESP) warned that growth prospects for the Mexican economy “are not very encouraging” and are being complicated by the challenges of judicial reform and trade policies promoted by the United States, which has increased the perception of a weakening of Mexico’s productive activity.

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According to figures from the  Monthly Industrial Activity Indicator (IMAI) , compiled by Inegi, the indicator showed a 0.7% annual decline  in the fourth month of the year.

During the period, mining registered the greatest growth, at 1.3%; while manufacturing increased by 0.7%; and the generation, transmission, and distribution of electric power, water supply, and natural gas increased by 0.1% monthly . The construction sector was the only one with negative figures, falling by 2% monthly.

On an annual basis , all sectors experienced significant declines.  Mining saw the largest decline over the cycle, with a  6.8% drop , followed by construction , with a 2.7% drop, and electricity, water, and gas generation , with a 0.1% decrease.

Manufacturing industries showed signs of recovery annually   , with a 1.4% increase, according to INEGI (National Institute of Statistics and Census).

Low domestic demand for goods and services, as well as the current global trading environment, have impacted Mexican industrial production, although it has shown slight progress.

According to experts, the Mexican economy faces significant challenges, and despite the outlook for low growth this year—just 0.2% , as recently projected by the World Bank (WB) —the country’s industrial activity will recover, albeit slowly, gradually, and with fluctuations.

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