Mexico’s economic activity index fell 0.3% year-on-year in January 2026, following a 3.3% expansion in the prior month and marking the strongest drop since August 2025. The secondary sector led losses, falling 1.1%, driven by a 3% contraction in manufacturing. Services increased 0.1%, supported by a 3.8% rise in healthcare and social security activities. Meanwhile, the primary sector expanded 1.6%, as livestock activity advanced 3.5% and agriculture rose 0.8%. On a seasonally adjusted monthly basis, economic activity fell 0.9%, following a 0.2% rise in December.