Mexico’s economic activity index slipped 0.1% year-on-year in November 2025, reversing a 1.7% expansion in October. The secondary sector contracted 0.8%, dragged down by declines in manufacturing (-2.2%) and mining (-1.0%). The services sector posted a modest 0.2% increase, as strong gains in waste management (11.0%), sports, cultural and recreational services (7.4%), healthcare and social services (5.7%), and retail trade (3.9%) offset weakness in wholesale trade (-6.7%), transport, mail and warehousing (-2.7%), restaurants and lodging (-2.3%), and public administration (-0.1%). Meanwhile, the primary sector expanded 1.3%, supported by higher animal farming (2.6%) and agricultural output (0.9%). On a seasonally adjusted monthly basis, economic activity fell 0.2% after a 1.0% rise in October.
