Overview
- INEGI’s August IGAE showed a 0.6% month‑on‑month expansion, marking a second consecutive monthly gain, according to coverage published Friday by multiple outlets.
- Annual activity was reported in the low‑3% range with outlets citing 3.3% and 3.5% year‑on‑year figures, a small discrepancy that likely reflects different series or rounding in INEGI’s tables.
- On the sector level, industry and construction led the recovery with notable annual gains in construction (+7.5%) and manufacturing (+3.2%), while wholesale trade jumped about 12% and retail rose roughly 2.4%.
- Services and commerce also supported annual growth, but services slowed month‑to‑month to a 0.2% rise, a sign that domestic demand is recovering unevenly and services inflation remains a constraint.
- Economists say the August jump reduces downside risks and supports holding interest rates steady at Banxico, though lingering weak 2025 growth and persistent services inflation limit room for rapid easing and shape forecasts into 2027.