Mexico’s industrial production rose 2.7% year-on-year in July 2026, the highest level since April 2024, accelerating from 1.7% in the prior month and well above market expectations of a 1.8% gain. Growth was supported by stronger manufacturing activity, which increased 1.6% following a 0.1% rise, mainly driven by a 14.7% jump in the production of petroleum and coal products, which had contracted 2.2% in the prior month. The manufacture of computers and electronic equipment also provided support, rising 14.2% after a 5.8% increase. Construction output growth accelerated further to 7.3% from 5%, driven by buildings (8.2%) and specialized construction activities (7.8%). In contrast, activity slowed sharply in mining, rising 1.6% versus 6.6%, as output of metallic and non-metallic minerals contracted further by 3.7%, while oil and gas extraction growth slowed to 1.6% from 2.9%. On a monthly basis, industrial production increased 0.5%, up from 0.2% in June.