FX.co ★ Mexican Economic Activity Falls More than Expected

In July 2025, Mexico experienced a contraction in its economic activity index, which decreased by 1.1% compared to the same period the previous year. This follows a 1.3% increase recorded in June and exceeded the anticipated decline of 0.7%. A significant downturn was observed in primary activities, which plummeted by 12.3% following a 4.6% gain in June, notably affected by a 19.9% drop in the agricultural sector. Similarly, secondary activities saw a decline of 2.7%, worsening from a 0.4% reduction in June. This decline was evident across several sectors, including manufacturing, which fell by 1.9%, mining by 5.8%, utilities by 3.7%, and construction by 3.5%. Furthermore, the growth rate for services decelerated to 0.4% from 2.1% in the previous month. On a seasonally adjusted monthly basis, the economic activity index decreased by 0.9% in July, following a revised increase of 0.1% in June, surpassing market expectations of a 0.7% decline.