Mexico’s economic activity increased by 1.1% year-on-year in May 2026, in line with market expectations but slowing from a revised 2.6% expansion in April. Growth was driven primarily by the primary sector, which expanded 7.6%, supported by an 8.7% rise in agricultural output and a 5.0% increase in livestock production.
The tertiary sector grew 1.7%, with notable contributions from wholesale trade (up 8.8%), government activities (4.9%), healthcare and social services (2.9%), and financial services and insurance (2.6%).
In contrast, the secondary sector contracted by 0.7%, as declines in manufacturing (-1.5%), utilities (-0.9%), and construction (-0.3%) more than offset a 3.9% increase in mining.
On a monthly basis, overall economic activity slipped 0.3% in May, following a 1.4% gain in April.
