Mexico's economic activity rose 2.8% year-on-year in June

Mexico's economy showed a year-on-year increase of 2.8% in June, according to data from the National Institute of Statistics and Geography (Inegi).

This growth was broadly based, with all major sectors contributing. Primary sector activities, including agriculture and animal husbandry, grew by 0.5%. The secondary sector, encompassing mining, manufacturing, and construction, saw a 1.7% rise. The tertiary sector, which includes trade and services, expanded by 3.6%.

Within the primary sector, agriculture experienced a 2% decline, but animal husbandry surged by 5.3%. The secondary sector saw significant gains in mining (6.6%) and construction (5%), with a modest 0.1% increase in manufacturing. The tertiary sector was boosted by wholesale trade, which jumped 14.3%, and retail trade, which advanced 2%.

Despite the June growth, Mexico's economy has experienced a progressive slowdown in recent years. After growing 6.1% in 2021 and 3.9% in 2022, growth moderated to 3.2% in 2023, 1.5% in 2024, and 0.6% in 2025. Analysts suggest Mexico has avoided a technical recession, partly due to not being severely impacted by U.S. tariffs, but the overall economic performance remained weak in 2025.