The Mexican economy fell 0.2 percent in the third quarter at an annual rate, a lower dynamism that was explained by the weakness in the country’s industrial production, the National Institute of Statistics and Geography (Inegi) reported yesterday.
The data observed a slight adjustment, since the corresponding data estimated a contraction of 0.3 percent. However, the 0.3 percent reduction in gross domestic product (GDP) in July-September compared to April-June 2025 was confirmed.
The contraction of 0.2 percent in the third quarter compared to the same period in 2024 is explained by adjustments in the data of the three sectors that comprise it. Trade and services, which contribute three quarters of GDP, advanced one percent compared to the third quarter of 2024, not 0.9 percent as announced at the end of October.
The above compensates for the 2.7 percent drop in July-September at the annual rate of industrial activities, although the data was lower than the 2.9 percent published at the time. The agriculture, livestock and fishing sectors showed an increase of 2.9 percent, not 3 percent as previously reported.
Tertiary activities grew 0.2 percent annually, a figure that was greater than the 0.1 percent that was published in a timely manner. The above means that trade and services boosted the economy.
Although primary activities have less weight in GDP, they also avoided a greater contraction. The Inegi adjusted the appropriate figure, which was from 3.2 percent to an advance of 3.5 percent. Industrial production maintained the decline of 1.5 percent compared to the second quarter of 2025.
Thus, the growth of the Mexican economy in the first nine months of 2025 was 0.4 percent annually. The data was driven by the 1.2 percent increase in commerce and services, as well as the 2.9 percent increase in primary activities, since industry fell 1.5 percent.
Monthly leave
The adjustments occur after the autonomous body released the Global Indicator of Economic Activity (IGAE), a measurement that allows the monthly behavior of GDP to be observed.
In September, the Mexican economy contracted 0.6 percent compared to August, being the steepest drop since December 2024. The decline occurs after economic activity advanced 0.4 percent in August, although in July it had fallen 0.4 percent.
Banamex analysts commented that although the Mexican economy contracted in the third quarter and an improvement was observed in the first semester, they foresee a recovery. Additionally, they adjusted their GDP estimate for this year to 0.2 from 0.4 percent.