Mexico’s industrial production declined 1.3% year-over-year in March 2026, matching the drop recorded in February and coming in slightly better than forecasts of a 1.5% contraction. The construction sector remained the main drag, shrinking 6.2% amid declines in building construction (-8.1%) and specialized construction activities (-2.4%). Manufacturing output also fell 1.0%, weighed down by a 10.4% drop in the production of electrical accessories, appliances, and power generation equipment. In contrast, mining output expanded 6.0%, supported by a 45.7% surge in mining-related services. The utilities sector also posted modest growth of 0.2%. On a seasonally adjusted monthly basis, industrial production fell 0.6% in March, reversing a 0.4% increase in February.