Mexico City Leads the Way in Domestic Consumption Growth in the Country

Domestic consumption across the country's 32 states remained resilient during the first half of this year, with Mexico City leading the nation.

According to data from the National Institute of Statistics and Geography (Inegi), total revenue from the sale of goods and services in the retail sector increased by 3.19% year-over-year in the first half of 2026, marking an improvement for Mexico compared to the same period in the two previous years.

This increase was seen in every state in the country, with Mexico City ranking first, with a 5.05% increase in retail sales, driven in particular by the impact of the World Cup.

The lowest increase, at 2.76%, was observed in Oaxaca, Durango, and Campeche, with a percentage below 3%. However, overall, 29 states recorded annual increases of more than 3%, indicating that retail trade—the main indicator of private consumption—remained resilient in these subnational territories, whose macroeconomic conditions have not been disclosed.

It is important to note that although the World Cup took place in the country in June, it did not have a significant impact on consumption, as consumers likely simply redirected their spending toward other goods and services.

According to Monex, the increase in retail sales was driven primarily by a surge in online sales of recreational items, stationery, and personal-use goods, as well as household goods.

Private consumption accounts for more than two-thirds of the national GDP—as well as the average across the states—making it the most significant component.

Monex forecasts that retail sales will face an environment characterized by moderate economic activity, a still-weak labor market, and low consumer optimism.