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Mexico's industrial activity expanded 1.8 percent year-over-year in April 2026 and grew 2.1 percent month-over-month versus March, marking its strongest monthly reading in five years, according to the Monthly Industrial Activity Index (IMAI) released June 12 by INEGI.
The report, published by El Financiero, shows growth concentrated in construction, which jumped 10.2 percent annually, while manufacturing fell 0.3 percent, mining advanced 3.4 percent, and utilities (electricity, water, gas) declined 0.3 percent. The annual figure breaks a streak of weakness and represents the best performance in roughly two and a half years. The cumulative reading for the first four months, however, remains in negative territory at minus 0.2 percent.
Three analyst assessments temper the headline. Janneth Quiroz of Monex cautioned that growth concentrated in construction while other components show weakness. Gabriela Siller of Banco Base noted saturation in computer equipment manufacturing due to insufficient additional investment. Alberto Ramos of Goldman Sachs observed that the industrial outlook remains challenging due to cost pressures and political uncertainty. INEGI's statement confirmed the figures as part of its official press bulletin for April. The data came with downward revisions to February and March, suggesting Mexico's industrial economy maintains month-to-month volatility.
INEGI will publish the May IMAI reading in July, serving as a gauge of whether construction sustains momentum or manufacturing returns to positive ground. The data feeds into INEGI's second-quarter GDP report due in August.
Frequently Asked Questions
**How much did Mexico's industrial activity grow in April 2026?**
INEGI's IMAI reported annual growth of 1.8 percent and monthly expansion of 2.1 percent versus March, the strongest monthly reading since March 2021.
**Which sector drove industrial growth in April?**
Construction, with annual growth of 10.2 percent. Manufacturing fell 0.3 percent, mining advanced 3.4 percent, and utilities declined 0.3 percent.
**When does INEGI publish the next IMAI?**
INEGI publishes the May 2026 IMAI in July. The second-quarter GDP estimate arrives in August.
Sources
- https://www.elfinanciero.com.mx/economia/2026/06/12/crecimiento-de-la-actividad-industrial-sorprende-incrementa-18-por-ciento-en-abril/
- https://www.inegi.org.mx/temas/imai/
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