In September 2025, the  Timely Indicator of Economic Activity (IOAE) , prepared by the  National Institute of Statistics and Geography (INEGI) , anticipated an annual decline of 0.6% in the Mexican economy , resulting from a slowdown in secondary activities, such as manufacturing.

“The IOAE provides timely econometric estimates of the evolution of the Global Indicator of Economic Activity (IGAE), as well as secondary and tertiary activities,” INEGI explained.

In its monthly measurement, the IOAE would have shown a positive figure, registering an increase of 0.1%  in the ninth month of the year .

By economic activity group , a 3% annual decline is expected  in secondary industries , which include manufacturing and construction.

In  tertiary activities , which include services such as trade,  transportation and storage , communications, education and health, an  annual growth of 0.8% is estimated .

Inegi also anticipated an annual decrease of 0.6% in the IGAE for September .

On a monthly basis, a 0.1% increase was projected in the IGAE , as well as in secondary and tertiary activities for the reference month.

The decline in the country’s economic activity last September shows signs of a contraction in the performance of key sectors such as manufacturing, which has been affected by a drop in external demand amid an aggressive tariff policy.

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El cargo Amid tariffs, Mexican economic activity weakens in September apareció primero en T21.

The  Timely Indicator of Economic Activity (IOAE) , prepared by the  National Institute of Statistics and Geography (INEGI) , anticipated an annual increase of  0.2% in the Mexican economy in August 2025, driven by tertiary activities, which include services such as transportation and storage .

In its monthly measurement, this indicator also showed a positive figure, registering a 0.1% increase in the eighth month of the year.

Despite the uncertainty caused by the United States’ tariff policy, the slight annual and monthly increases in the IOAE signal moderate economic expansion in Mexico.

By economic activity group , a 2% annual decline is expected in secondary industries , which include manufacturing and construction.

In  tertiary activities , which include services such as trade, transportation and storage , communications, education and health, an  annual increase of 0.7% is estimated .

INEGI also anticipated a 0.1% increase in the Global Economic Activity Indicator (IGAE) and in tertiary activities on a monthly basis. Secondary activities are expected to remain unchanged for August of this year.

According to the agency’s figures, key sectors such as manufacturing and construction  are expected to experience a decline in the eighth month of 2025, marked by a decrease in external demand and the rise in the price of some inputs, in a complicated global economic context.

The IOAE is a statistical tool that allows for predicting the behavior of the IGAE, as well as secondary and tertiary activities, INEGI emphasized.

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Announcements of Foreign Direct Investment (FDI) projects in Mexico in the transportation and storage sector for the period 2020-2024 amounted to more than one billion dollars (mdd), on average, per year, revealed the Economic Commission for Latin America and the Caribbean (ECLAC) , which detailed that in the countries of the region the industry received only 3% of the total of these investments last year.

According to the Foreign Direct Investment in Latin America and the Caribbean 2025 report , prepared by the aforementioned organization, investment announcements in the logistics sector in Mexico averaged close to two billion dollars per year from 2010 to 2019.

At the report’s presentation, José Manuel Salazar-Xirinachs, Executive Secretary of ECLAC, emphasized that Mexico has a positive investment environment, as well as clusters for economic development and a strong logistics chain.

In this regard, he emphasized that the country is best positioned to attract FDI in Latin America and the Caribbean within the framework of the phenomenon of relocation of production lines, known as nearshoring .

According to the report, Mexico received the second-largest amount of FDI in the region in 2024, with net inflows of $45.337 billion, representing a 48% increase compared to 2023 and the highest annual figure since 2013.

José Manuel Salazar-Xirinachs noted that the integration of the Mexican economy with that of the United States under the context of nearshoring could pose risks, especially due to the recent economic policies promoted by its northern neighbor. However, there is also “a great deal of common interest between the two countries.”

In terms of sectors, manufacturing was the largest net driver of FDI in Mexico, experiencing a 10% increase in inflows compared to 2023 and also accounting for 53% of the 2024 total.

For his part, Marco Llinás, director of ECLAC’s Productive and Business Development Division, believes that FDI in Mexico will increase as the country improves its efforts to attract foreign capital through Plan Mexico , especially given the economic uncertainty affecting the world due to protectionist policies.

According to the ECLAC report, FDI in Latin America and the Caribbean in 2024 reached 188.962 billion dollars (mdd) , which represented an increase of 7.1% compared to 2023.

The 2024 growth in FDI components was driven by transnational corporations already operating in the region, mainly due to increases in profit reinvestment, while capital inflows remain stagnant.

In 2024, FDI inflows increased in the Caribbean, Central America, and Mexico, while results in South American countries were mixed. Brazil saw a 13.8% increase in FDI inflows, while Mexico saw a 47.9% increase in the period.

“At ECLAC, we believe that Latin America and the Caribbean must leverage foreign direct investment to achieve more productive, inclusive, and sustainable development. To achieve this, it will be key to use FDI as a strategic tool within productive development policies,” emphasized José Manuel Salazar-Xirinachs.

According to the report, during the reference period, there was an increase in FDI inflows to manufacturing and a decrease in the services sector, with the share of FDI in both sectors remaining similar, at 43.6% and 40.4%, respectively.

The analysis indicated that the United States consolidated its position as the largest investor in Latin America and the Caribbean, with 38% of the value invested in 2024, and the European Union’s share fell to 15% of the regional total, representing the lowest figure since 2012. Meanwhile, FDI from China accounted for just 2% of total inflows in 2024.

Meanwhile, regarding the behavior of Latin American transnational corporations, known as translatinas, the report showed that outward FDI from the region increased 47% last year, reaching $53.033 billion . Brazil was the largest investor abroad, accounting for 46% of the total, while investments from Mexico showed the greatest growth.

The report also highlighted FDI in the mining sector. Between 2005 and 2024, 1,152 project announcements were made, totaling US$230,065 million.

Furthermore, the analysis highlighted that while there has been progress in digitalization in Latin America and the Caribbean, significant gaps in technological adoption persist .

Mexico and Brazil accounted for 32% and 29%, respectively, of the FDI associated with project announcements accumulated between 2005 and 2024. When Argentina, Chile, and Colombia are added, this group of countries accounts for more than 80% of the total in the region.

It is worth remembering that during the first quarter of 2025, Mexico reached  21.4 billion dollars (mdd) in Foreign Direct Investment , which meant an increase of  5.4% compared to the same period in 2024, according to the Ministry of Economy .

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