Mexico Broad-Based Decline of Real GDP During 1Q2026

Mexico's real GDP fell 0.62% qoq in 1Q2026, driven by broad declines across all major sectors despite a slight rebound in March activity. Goldman Sachs maintains its 1.2% growth forecast for 2026 but warns of downside risks.

Key Takeaways

• 1.Mexico's real GDP declined 0.62% qoq sa in 1Q2026, a broad-based contraction affecting primary, secondary, and tertiary sectors.
• 2.Economic growth for 2025 was revised downward by 10bp to 0.5%, with very modest average growth over the last several quarters.
• 3.While March 2026 activity showed a bounce (+0.43% mom), the statistical carry-over for 2026 remains at 0%.

Table of Contents

• KEY FIGURES (1Q2025)
• DETAILS
• Disclosure Appendix
• Global product; distributing entities
• General disclosures

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