Industry in Mexico

Mexico Industry | Economic News & Forecasts

Mexico - Industry

Preliminary data revealed that the economy shrank for the fourth successive quarter and at the steepest rate since the 2009 global financial crisis in Q1, as the Covid-19 pandemic started to take its toll. A still-reeling industrial sector and a sharp pullback in services activity led the downturn. It will be in Q2, however, that the full brunt of the coronavirus shock will be felt. Output in the automotive sector, which forms the backbone of the country’s manufacturing industry, collapsed by 99% in April as plants shut down operations. Moreover, business closures and evaporated demand led both the manufacturing and services PMI to plunge to historic lows in the same month while a record number of formal jobs were lost from March. Meanwhile, on 13 May, authorities announced the gradual lifting of restrictions to get the economy back online, with the crucial auto industry among the first to restart operations.

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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