Overview
- INEGI data released in mid‑August show industrial production up 1.7% year‑on‑year in June, supported by gains in construction and mining.
- Monthly readings were small and slightly disputed with INEGI’s IMAI reported between 0.1% and 0.2% growth month‑on‑month, reflecting mixed short‑term signals.
- Construction drove the June improvement with roughly a 3% month‑on‑month rise and about 5% year‑on‑year growth, while building works rose near 4.8% and civil engineering fell.
- Manufacturing remains the main weakness, falling about 0.6% month‑on‑month and weighing on the industrial mix despite a modest 0.1% annual gain in that subsector.
- The result lifts the tone for Q2 growth but leaves January–June industrial activity essentially flat at 0.0%, so policymakers and markets will watch whether gains broaden beyond construction before calling a sustained recovery.