Tabasco, Michoacán, Oaxaca, SLP Lead Industrial Growth in July

Mexico’s industrial activity continued to show regional contrasts in July 2025, with several states posting notable gains, according to data from INEGI. The Monthly Indicator of Industrial Activity by State (IMAIEF) reported the strongest growth in Tabasco, Michoacan, Oaxaca, and San Luis Potosi, reflecting ongoing expansion in key manufacturing hubs.

INEGI’s report highlighted solid performance across multiple sectors. In energy generation, transmission and distribution, as well as water and gas supply, the states of Nayarit, Guanajuato, Michoacan, Yucatan, and Oaxaca posted the most significant increases.

In construction, growth was led by Baja California Sur, Guanajuato, Tlaxcala, Colima, Jalisco, and Zacatecas, while the mining sector recorded notable gains in Jalisco, Tamaulipas, Michoacán, Chiapas, Colima, Veracruz, Zacatecas, and Tlaxcala.

Overall, the largest monthly increases in total industrial activity were observed in Oaxaca, Nayarit, and Guerrero. On an annual basis, Michoacan, Nayarit, Baja California Sur, Zacatecas, Colima, and Tamaulipas led the national rankings.

The findings underscore the diversity of Mexico’s industrial landscape, where regional economies experience varying growth dynamics across manufacturing, energy, and construction.

The report also highlighted some negative results. Queretaro recorded a -3.0% monthly and -4.1% annual variation in seasonally adjusted terms, while national industrial activity declined 2.7% year-over-year in original figures, evidencing an uneven but resilient sectoral performance.

INEGI emphasized that the IMAIEF serves as a key tool for monitoring industrial development at both the regional and national levels, covering the main components of mining, energy generation and distribution, construction, and manufacturing.