Overview
- Inegi reported on Friday that the monthly industrial activity indicator rose 0.5% in July, the second straight monthly gain after a 0.2% increase in June.
- The IMAI's year‑on‑year rate was reported at about 2.4% in seasonally adjusted series while some outlets using original figures noted 2.7%, reflecting differences in how the data are presented.
- Construction was the main driver, up 0.9% month‑to‑month and roughly 6.7–7.3% year‑on‑year, while manufacturing rebounded 0.7% in July but remains down about 0.7% in the January–July accumulated period.
- Mining fell 1.8% in July but showed positive growth for the January–July period (about 3.5%), and overall the industry posted its first positive January–July accumulated result in 2026 at 0.4% versus 2025.
- Market analysts say the recovery could be fragile because manufacturing has the largest economic weight and export‑linked investment may be constrained by U.S. trade measures and the ongoing USMCA review, which could affect jobs and factory output in the months ahead.