FX.co ★ Mexico’s Industrial Output Turns Negative in January, Marking Sharp Year-on-Year Reversal

Mexico’s industrial production contracted in January 2026, posting a year-on-year decline of 1.1%, according to data updated on 13 March 2026. The figure marks a sharp reversal from December 2025, when output had expanded 2.4% compared with the same month a year earlier.

The January reading, measured on a year-over-year basis, shows that momentum in Mexico’s industrial sector has weakened notably at the start of 2026. While December’s data suggested a solid end to 2025, the move into negative territory in January underlines a more challenging backdrop for manufacturing and broader industrial activity.

The comparison framework indicates that the December 2025 figure reflected growth relative to December 2024, whereas the January 2026 reading is benchmarked against January 2025. The shift from a 2.4% annual increase to a 1.1% annual contraction within a single month highlights increased volatility and potential headwinds for Mexico’s near-term industrial performance.