Industrial production in Mexico fell 0.8% year-on-year in May

Industrial production in Mexico fell by 0.8% year-on-year in May due to declines in two of the four sectors, the National Institute of Statistics and Geography (Inegi) reported.

The data is the result of a year-on-year decline, based on original figures, in mining (-8.4%).

This was followed by electricity generation, transmission, and distribution, water and gas supply (-3.7%), in contrast to an increase in manufacturing industries (0.5%), while construction remained unchanged from the previous month.

As a result, in the first five months of 2025, Mexico's industrial production decreased by 1.4% year-on-year.

This is the result of cumulative declines in mining (-8.8%), electricity generation and water and gas supply (-1.7%), and construction (-1.6%), although manufacturing remained unchanged.

Meanwhile, the monthly industrial activity indicator (IMAI) grew by 0.6% based on seasonally adjusted figures last May compared to the previous month.

This was due to the monthly decline in mining (-1.1%), although there were advances in construction (2.8%), electricity generation and water and gas supply (0.4%), and manufacturing (0.1%).

The figures reflect the performance of the Mexican economy, which grew by 1.5% in 2024 but fell by 0.6% from October to December, its first quarterly contraction in the last three years, due to trade uncertainty caused by the United States.

Industrial production in Mexico grew by 0.2% annually in 2024, with mining contracting by more than 4%.

Mexico's GDP rose 1.2% in 2024, mainly affected by the decline in the primary sector, while in 2023 it rose 3.1%.

For 2025, the government estimates that Mexico's economy will grow by at least 2%.