Overview

• INEGI’s timely IOAE estimate points to 0.1% month‑on‑month growth in August and a 0.2% annual increase, indicating only a mild rebound.
• Commerce and services provided the lift, while industrial activity was flat on the month and declining year over year in the IOAE breakdown.
• The August improvement follows an estimated contraction in July, though published figures differ on the size of that drop.
• For January–August, activity is up about 0.4% year over year, with industry down roughly 1.3% and services up about 1.1%, according to IOAE-based tallies reported by EL CEO.
• Expectations for full‑year 2025 growth have edged higher, with Banxico at 0.6% and private forecasts clustering near 0.5%, and IOAE results remain preliminary and subject to revision.