The economic activity of the country contracted for the second consecutive month in August, reaching 0.6% to annual rate.
According to Inegi, the Indicator Global Economic Activityreported that primary activities rose 14.5%, while tertiary activities grew 0.5%. In contrast, secondary activities fell 0.3%.
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At annual rate, The IGAE did not present a variation (0.0%), which represents a slight improvement compared to the decline of –1.2% registered in July.
Primary activities grew 15.3% annually, while tertiary activities increased 0.8%.
In the accumulated period from January to August 2025, with original figures, the economy registered a slight contraction of 0.1% annually, affected by the weakness of mining, construction and manufacturing.
These falls reflect the stagnation of investment and lower external demand. However, the dynamism in some service branches, such as retail trade, professional and business support services, allowed the decline to be partially cushioned.
Primary activities contributed positively, driven by a rebound in agriculture, although with marked volatility.
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A Bx+ analysis estimated a low GDP growth rate towards the end of the year.
“First, uncertainty will prevail, since everything indicates that the T-MEC it will be reviewed in 2026. Second, the US economy has cooled. Activity will accelerate in 2026 as uncertainty subsides, real interest rates fall a little more and given the effects of the Soccer World Cup”.
Private consumption finds support in wage growth and will remain limited due to low job creation.