Key facts
- Mexico's economy grew 2.2% in the second quarter.
- The Q2 growth surpassed Banorte's 2.1% annual estimate.
- The primary sector expanded by 7.6% in Q2.
- The industrial sector output grew 0.9% in Q2.
- The services sector expanded by 2.6% from April to June.
- The finance ministry maintained its 2026 economic growth forecast at 1.8% to 2.8%.
Mexico's economy grew by 2.2% in the second quarter, exceeding forecasts and showing upward revisions for the first quarter. This growth was driven by strong performance in the agricultural, industrial, and services sectors. The primary sector, encompassing agriculture, fishing, mining, and hydrocarbon extraction, expanded by 7.6% in the second quarter. The industrial sector grew by 0.9%, while the services sector saw a 2.6% increase. The finance ministry maintained its 2026 economic growth forecast at 1.8% to 2.8%, stating that the economy would need to contract significantly in the latter half of the year to fall below a baseline of 1.5% growth. This 1.5% figure is considered a 'growth base' already secured due to the first half's performance, supported by strong construction and automotive manufacturing.