Industry in Mexico

Mexico Industry | Economic News & Forecasts

Mexico - Industry

After flatlining in Q4, the economy appeared to gain steam in Q1, aided chiefly by a stronger automotive industry and the fading impact of last year’s labor outsourcing ban supporting the services sector. However, a surge in Covid-19 cases and ensuing worker absences should have capped momentum early in the period, with higher interest rates and business uncertainty creating additional drags throughout the quarter. Looking at available indicators, economic activity growth ebbed in January but remained solid, while the manufacturing and services PMIs improved in February and March. In addition, remittances continued to expand by double digits through February, which should have supported private consumption. Finally, vehicle production reached the highest level since November 2020 in March, following a prolonged production downturn due to semiconductor shortages.

Mexico - Industry Data

2015   2016   2017   2018   2019  
Industrial Production (annual variation in %)1.1  0.3  -0.3  0.5  -1.7  

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Mexico Industry Chart


Mexico Industry
Note: Annual variation of industrial production in %.
Source: Mexico National Statistical Institute (INEGI) and FocusEconomics calculations.

Mexico Facts

Value Change Date
Bond Yield6.87-0.24 %Dec 31
Exchange Rate18.93-0.29 %Jan 01

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