Mexico Industrial Output Unexpectedly Shrinks

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Industrial production in Mexico fell by 1.1% year-on-year in January 2026, following a 2.4% rise in the prior month and defying analysts’ forecasts of a 1.7% increase. Manufacturing slipped by 3%, after a 1.3% rise in the prior month. On the other hand, output grew for construction (4% vs 6.6%); mining & quarrying (0.8% vs 0.6%) and utilities (0.4% vs 3.9%). On a seasonal adjusted monthly basis, industrial output declined by 1.1%, after a downwardly revised 0.1% rise in the previous month.

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