Mexican Economy Accelerated at the Start of the Third Quarter of 2026

ByClara Zepeda

This article by Clara Zepeda originally appeared in the September 24, 2026 edition of La Jornada, Mexico’s premier left wing daily newspaper.

Mexico City. Mexico’s economy grew 3.3 percent in real annual terms in July 2026, with trade and services as its main support, and a more visible industry, the National Institute of Statistics and Geography (INEGI) reported.

The Global Indicator of Economic Activity (IGAE), calculated by INEGI to track the monthly performance of the Mexican economy, showed an advance of 0.8 percent month-over-month in July, after June’s stagnation and the 0.3 percent drop last May.

By component, tertiary activities (trade and services) grew 1.2 percent and secondary activities (industry) 0.5 percent month-over-month, while primary activities (agriculture and livestock) contracted 1.1 percent.

At an annual rate, tertiary activities increased 4 percent and secondary activities 2.4 percent. Primary activities fell 0.6 percent in seasonally adjusted figures, used to make the figures more comparable.

INEGI detailed that, with original figures, without any statistical adjustment for calendar effects, the country’s economic activity advanced 3.4 percent year-over-year, supported by 4 percent growth in services and 2.7 percent in industry. The agricultural sector fell 1.1 percent.

In the first seven months of the year, Mexico’s economy accumulated growth of 1.5 percent compared to the same period of 2025.

Services and agriculture rebounded 2 and 1.8 percent; meanwhile, industry advanced 0.4 percent.

“The IGAE result was supported mainly by the rebound in tertiary activities and by an improvement in secondary activities, which suggests a broader recovery compared to the close of the previous quarter; however, performance continued to be uneven across sectors, given the contraction in primary activities,” explained Rosa Rubio, economic analyst at Monex.

She added that the cumulative January–July figures show a gradual improvement in the pace of activity, in which industry reversed the negative trajectory observed since August 2024, while services continued to be the main support of growth.