FX.co ★ Mexico Industrial Activity Beats Expectations

Mexico’s industrial production rose 2.7% year-on-year in July 2026, the fastest pace since April 2024. This marked an acceleration from June’s 1.7% increase and comfortably exceeded market expectations of a 1.8% gain.

The overall improvement was driven primarily by stronger manufacturing, which expanded 1.6% after edging up just 0.1% in the previous month. Within manufacturing, output of petroleum and coal products surged 14.7%, rebounding from a 2.2% contraction in June. Production of computers and electronic equipment also contributed significantly, rising 14.2% following a 5.8% increase in the prior month.

Construction activity strengthened further, with output growth accelerating to 7.3% from 5.0%. This was supported by an 8.2% increase in building construction and a 7.8% rise in specialized construction activities.

By contrast, mining activity slowed sharply, growing 1.6% compared with 6.6% in June. Output of metallic and non-metallic minerals contracted further, down 3.7%, while growth in oil and gas extraction eased to 1.6% from 2.9%.

On a monthly basis, industrial production increased 0.5% in July, picking up from a 0.2% gain in June.