Mexico's industrial activity grew 3.6% year-over-year in August 2026, its fastest pace since October 2023, and posted three consecutive months of monthly gains, the National Institute of Statistics and Geography (Inegi) reported on October 12.
The Monthly Indicator of Industrial Activity (IMAI) rose 0.6% from July on seasonally adjusted figures, according to La Jornada. The index stood at 103.4 points (base 2018=100), its highest level since January 2024, according to El Economista. Industry accounts for roughly one third of the national economy and is tied to foreign trade.
The sectors driving the advance were construction, up 7.9% year-over-year; manufacturing of petroleum and coal products, up 4.7%; and transportation equipment production, up 2.8%. Manufacturing grew 1.2% month-over-month and 3.2% year-over-year: 15 of its 21 branches posted gains. For the January to August 2026 period, industry advanced 0.8%, against a 1.7% decline in the same period of 2025.
The streak matters because it arrives as some analysts were anticipating a contraction by year-end. Even so, manufacturing still carries a 0.3% decline so far in 2026. Analysts at Banorte noted that the sector is awaiting a bilateral agreement between the United States and Mexico that would reduce Section 232 tariffs, which cover automobiles, steel and aluminum, with the annual USMCA reviews still pending. The food industry contracted 2.3% in August.
The next IMAI reading, for September, is due on November 11 and will show whether the sector sustains the pace or whether the advance runs out of steam.
This article was written with the assistance of artificial intelligence based on verified sources and reviewed by a human editor before publication.
