Overview
- INEGI reported that manufacturing output rose 0.2% in September from August after two monthly declines.
- Production fell 2.0% year over year in September, marking a third consecutive annual drop.
- Sector payrolls decreased 0.1% month over month and 2.6% year over year, extending a 31‑month stretch of contraction.
- Hours worked fell 0.4% on the month, and real average remunerations declined 0.9% monthly and 3.7% annually.
- Job losses were steepest in transport equipment, wood, textile inputs and finishing, leather and clothing; capacity use was 80.8%, and Banamex projects a 0.4% contraction for 2025.