FX.co ★ Mexico’s Economic Activity Turns Negative in May After April Uptick

Mexico’s economic activity slipped into contraction in May 2026, reversing the growth recorded a month earlier, according to the latest data released on 23 July 2026. The month‑over‑month indicator fell to -0.30% in May, down sharply from a 1.40% increase in April.

The figures show a clear loss of momentum: April’s performance had marked a solid expansion compared with March, while May’s reading signals a pullback when compared with April. On a month-over-month basis, the current result reflects a deterioration in short-term economic dynamics after a period of modest improvement.

The comparison framework used for the release measures each month’s change against the immediately preceding month. In this context, April 2026 represented an upswing, whereas May 2026 now points to cooling activity, underlining growing volatility in Mexico’s near-term economic trajectory.