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Goldman Sachs

May 22, 2026

Mexico Q1 2026 Real GDP Decline

Market ReportMacro Economic IndicatorsIndustrialsUtilities

Mexico's real GDP contracted by 0.62% qoq in 1Q2026, driven by broad-based declines in industrial and service sectors. While March activity showed modest recovery, the outlook remains challenged with 2026 growth forecasted at 1.2%.

Key Takeaways

  • 1.Mexico's real GDP declined by 0.62% qoq sa in 1Q2026, slightly better than consensus but confirming a broad-based economic contraction.
  • 2.The contraction was widespread across sectors, including secondary (-1.0%), labor-intensive services (-0.4%), and primary (-1.7%) sectors.
  • 3.The 2025 growth figure was revised down to a soft 0.5%, and the statistical carry-over for 2026 currently stands at 0%.

Table of Contents

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

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